What potential electric shock hazard exists when using a phantom powered microphone in an environment where there is a potential for the mic and/or user to be accidentally immersed in water (i.e. an indoor pool facility)? Would it be best to use only dynamic microphones in this application?
All properly designed phantom power supplies limit the available current to no more 15 milliamps. 48 volts of phantom times 0.015 amps = 0.72 watts. In theory, this small amount of power should not be harmful.
However, any type of wired mic is connected to an audio mixer and if the mixer is AC powered there always is a possibility of failure within the mixer that might bring the AC hot lead in contact with the chassis and therefore the handle of the microphone - dynamic or condenser.
The best answer is a wireless microphone which is powered by 9 volts DC or less, and has no physical connection to the audio mixer.