What happens with me, is the slack isn't enough for the earbud cord for when I'm mowing the lawn of using my backpack blower around the house. I believe I have pulled the wire from where it was secured (miro-solder, I hope not), but I have to actually pull it apart to see what's up.
But usually...water=dead unless you can get it in about 10lbs of dry rice. I've saved a laptop that way.