Water In Lower Unit?

[chumbucket]

I like to replace those screw gaskets every year. It's cheap insurance. How long since the last time you ran the boat? If it's been sitting, the oil and water should separate. The water will be at the bottom of the lower unit because of the higher density than oil. Gas and oil float on water right? Therefore the water exited before the oil.
If it were mine, I'd replace those gaskets, make sure you didn't wrap any fishing line or anything else behind the prop. Fill her with fresh oil and run it. Then check it after the next use.
Good luck Blu.