A: YES YOU CAN
When an electronic device circuitry comes in contact with water , it not enough just to dry it out, Water or any other liquids have chemicals and minerals that give it a certain PH(Acidic or Basic) which in turn with the electric current that is present in the circuit will start an Oxidation/Corrosion process similar to Rust, unfortunately, drying your device will not be enough, as the presence of electricity will keep that processes going, even when your device is dry (note: the Oxidation will continue even when there is no electricity, just at a slightly slower pace)
That is one of the reasons putting your phone in rice will not resolve the damage problem, and if left untreated, your phone will progressively start exhibiting malfunctions as the corrosion and oxidation progresses progressing and eating away at components and traces on your device, until eventual complete failure.
It is usually best to open the device getting it dried and treated by a professional as soon as possible, this will give you a better chance for a successful recovery of your data and even getting your device to fully function again, in some cases internal components may need to be replaced, Screen and battery Replacement are typical in these cases if the phone is to be refurbished to a working order again, this will not be required if you are interested in Data recovery only At OmnidataPlus we have all the equipment and knowledge on how best to do that for you, and will recommend the best strategy for repair