One thing I would not do is to put peroxide or colloidal silver in my ear. This just provides more water to create more infection in the long run.
The first thing to try would be a bulb syringe and very carefully insert it in the ear and slowly release the pressure on the bulb to try and suction some of the wax and water out of the ear.
Swimmers also use pure alcohol on a swab to help pull water out of the ear.