I would suspect the capsule diaphragms are dirty, rather than an electrical component on the PCB is bad. Rain water, or flood water, or whatever has a lot of impurities. When the water evaporates, the impurities remain.
When my LSD2 (your LSD2?) had a bad crackling in one capsule, the tech tried to wash it with distilled water. It didn't work and they ended up replacing the capsules in that mic... but the point is that washing with distrilled water is a trick utilized by "people who know what they are doing." If you wash it, I'd try to make sure it's dry (overnight with silica gel?) before putting phantom power to it. Since no one is that patient, I'll say try to get all the visible water off there, perhaps with a piece of camera lens cleaner paper. Don't use compressed air, that's too much pressure on the diaphragm.
I'd start by looking for a tiny whole which may exist for the purpose of equalizing pressure. In the beginning I'd probably make a point NOT to get water in there. If the first cleaning doesn't seem to help, I'd probably deliberately try to get water in there. At that point, probably the damn mic will never work again, but if you are rapidly approaching that "try anything" stage, that's where I would predict it would be.