You can pretty much fix anything electronic that falls in water. What happens is some white sediment or something gets all over the PCB board or whatever the Abbreviation is and you just need to clear that all off and dry it. So basically take apart your PSP, dry all the pieces that aren't electronic thouroughly and clear all the muck off your motherboard and other electronic pieces. If you took it apart and dryed it really quick before it dryed by itself you would have been fine as well.