Otolaryngologists actually do not recommend cleaning the ear canals with cotton swabs. They work more like ramrod in this case, pushing stuff in more than taking it out.
Truth. In the case of water in the ear, I was advised to put a few drops of alcohol (specifically, the stuff used for first aid, not just any random drink) into the affected ear, keep head tilted for a minute, and then drain it out. The alcohol remaining inside evaporates quickly and takes the water with it. It's worked well so far.