I second Spare on the Olympus waterproof. I have had one for 3-4 years now and the thing just keeps on going no matter how much I beat it up. Mine takes pretty damn good photos, but the newer models are even better.
http://www.olympusamerica.com/cpg_se...?section=tough
I also own a Nikon DSLR that takes great photos, but to be honest we use the olympus so much more and have more memories with it because no matter where we are (skiing, snorkeling, at the beach, etc) we have it with us. We don't worry about it getting wet or sat on, it's great.
-Svence