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The water is the condensate from the A/C evaporator, and it's not draining properly, due to a clogged drain hose or "udder" as it's called.
As for the severity of the leak, it may not seem like it's that bad, but if allowed to continue and worsen, it will soak your Body Control Module (BCM), which is behind the passenger footwell panel, and then your real problems will start.