If the water comes out when the car is cold and then goes away when the car is warmed up, then this is normal condensation. If the car blows white smoke that never stops and smells sickly sweet, then this could be a head gasket. The fast rpm could be cause by a defective idle motor or other things, it's not really linked to a bad head gasket.
It is probably a head gasket, the less you start and drive it, the less damage you can do. You Don't want to turn a blown head gasket into a cracked head, or scorching your cylinder walls. If you do the repair yourself make sure to have the head checked for hairline cracks. Have it resurfaced it will go back together like new. Also check for antifreeze mixed in the oil. Change the oil afterward.
You know what antifreeze smells like? If there is continuous white smoke after it has warmed up, it's most likely a gasket. The high idle is a result of the EEC (electronic emission control module located through the top of the firewall towards the top right side) trying to compensate for the antifreeze that it's burning in the cylinder(s) . Doesn't mean the throttle position sensor is bad, or the EEC is bad, However, after the head gasket is fixed it will probably idle the way it's suppose to. If it doesn't then check the EEC that went bad, or the throttle position sensor.