A popular song on the radio has a mother asking her prospective son-in-law "Were you washed in the blood, or just in the water?". That's a good question. Some people think they're the same thing, but they certainly are not!
Being washed in the water is the ritual a born-again Christian undertakes to openly associate himself/herself with the death, burial and resurrection of Jesus. Being washed in the blood is accepting one's sinfulness, repenting of those sins and accepting Jesus' shed blood as the sacrifice for them. Being washed in the water without first being washed in the blood produces nothing more than a wet sinner! Being washed in the blood cleanses the soul and allows the spirit to be reborn of God. Being washed in the water announces to the world that you've been washed in the blood and that Jesus is the Lord of your life.