Dry water is the result of coating small water droplets in silica. It is a powdery substance like sugar and is composed of 95% water.
Jokes about dehydrated water crystals aside, this is a pretty impressive technique for collecting and containing water which has been around since 1968. In 2006, it was rediscovered as a potential way to absorb carbon gases and a host of other applications.
I've got to think back to other 8th grade jokes to see what future technology will bring.