The ceremonies of the Great Water-Blessing took hundreds of years to develop. The primary prayer for the blessing of water is from Sophronius, Patriarch of Jerusalem (+641). The form of the rite was developed between the 14th to 16th centuries. In most    parishes the form is shortened to be celebrated immediately after the Prayer behind the Ambo (i.e., the one said by the priest in the center of the church), and is mainly the Prayer of Sophronius.
Our current liturgical books allow for two blessings: the blessing of water on the Eve as a symbol of the former practice of baptizing converts and the blessing of water on the feast as a  celebration of Christ’s baptism in the Jordan, thus manifesting to humankind that He IS God in human form.
The three-fold blessing of water, as we currently practice it, was found first in the Book of Services of Metropolitan Peter Mohyla (1646). This three-fold blessing involves the use of a three-branch candle, the priest’s breath and then the priest’s hand. The rite of water blessing is then concluded with the plunging of the hand cross into the     water three times. This rite is not uniform throughout the Eastern Churches. The symbolism of the three-fold blessing, each which is  performed three times, is, of course symbolic of the power of the Holy Trinity being called down to bless the water.

Remember, water is a symbol of life