These are but two of many examples of water combining with another compound to create a new substance. In some cases water's presence in abundance explains why some substances are not usually found. For example pure forms of two abundant and common elements on earth, almost never are found in nature. Sodium and Potasium, both metals in their pure form, are almost never found in nature because they react instantly and explosively when brought into contact with water. These are extreme examples but everyone knows that water aids in the rusting and corrosion of metals, Water acts as a catalyst for rust which is the combining of oxygen to metal.
Water is also a source of hydrogen and oxygen for chemical reactions.
Alcohols, fatty acids, proteins, and many other organic compounds owe their existance to the reaction of organic molecules with water. While water is used both chemically and physcially, with both organic and inorganic substances, it has some characteristics that scientist still don't completely understand. Water molecules have a unique ability to be energized by microwave radiation, and at the same time make an excellent barrier to nuclear radiation. It absorbs neutrons in nuclear powerplants, yet is easily heated by microwaves. As abundant as water is and as familiar as it is, it is amazing what scientists can't explain about it.