Water can dissolve many different substances

ADR label for transporting goods dangerously reactive with water
Water is miscible with many liquids, such as ethanol, in all proportions, forming a single homogeneous liquid. On the other hand, water and most oils are immiscible, usually forming layers according to increasing density from the top. As a gas, water vapor is completely miscible with air.
Water forms an azeotrope with many other solvents.
Water can be split by electrolysis into hydrogen and oxygen.
As an oxide of hydrogen, water is formed when hydrogen or hydrogen-containing compounds burn or react with oxygen or oxygen-containing compounds. Water is not a fuel, it is an end-product of the combustion of hydrogen. The energy required to split water into hydrogen and oxygen by electrolysis or any other means is greater than the energy that can be collected when the hydrogen and oxygen recombine.[17]
Elements which are more electropositive than hydrogen such as lithium, sodium, calcium, potassium and caesium displace hydrogen from water, forming hydroxides. Being a flammable gas, the hydrogen given off is dangerous and the reaction of water with the more electropositive of these elements may be violently explosive.
Taste and odor

Water can dissolve many different substances, giving it varying tastes and odors. Humans and other animals have developed senses that enable them to evaluate the potability of water by avoiding water that is too salty or putrid. The taste of spring water and mineral water, often advertised in marketing of consumer products, derives from the minerals dissolved in it. However, pure H2O is tasteless and odorless. The advertised purity of spring and mineral water refers to absence of toxins, pollutants and microbes, not the absence of naturally occurring minerals.