iPod touchwater damaged with white screen

well i have the iPod touch 2nd generation. i have had it over at least 2 years without any problems till last month. First off my sleep button on top stopped working i guess from over pressing it, it works sometimes but i have to press it really hard and afta awhile i hard to press it hard on a solid object. This really didnt bother me, because i could still listen to music and do whatever still i just couldnt put it in sleep mode. Later my home button started to mess up where i had to press it multiple times before it could go to home. Recently i went to my cousins house and i think one of them damaged it with water, the screen displayed as if it had a splash of water inside and the back light was extremely dim even after i used the settings to put up the brightness. I didnt bother drying it because i didnt know how and everything seemed to be working fine except for the dim light turning off and on, after that a few hours later the whole screen turned white with the water splash still there. since then i have been searching throughout the internet on how to fix the water splash and the white screen. And plz dont suggest holding the sleep and home button because as i said they r malfunctioning and i have and i dont think they even work anymore because i keep pressing and it has no effect on my iPod, it just stays black and when i do have luck all that shows is the white screen, and also it seems that everything is working because i was pressing around on the white screen and my music played it even paused, i also tried the restore thing on itunes and still didnt work. Am thinking my only option is either to throw away or open it to c if i can fix because i dont think my dad got a warranty on it.

If any of you have any suggestions on how i can fix it plz tell me my dad is really #&^$!$ at me for letting my cousin play with