Binoculars that are waterproof will withstand submersion into water, but water-resistant binoculars won’t.
You can get water-resistant type wet, but don’t drop them overboard or otherwise submerge them. This includes having them drop out of your pocket into a pail of water while washing the car! Trust me, I know!
You may have to pay a little extra for waterproof binoculars, so you’ll have to weigh the pros and cons for your situation.
How likely are you to dunk your binocs? If you said ‘very likely’ (like me!) go ahead and spend a little bit more. After all, how often do you buy binoculars?
If you’re comparing a few different models, take into consideration that being waterproof is a plus, and maybe a deciding factor for you if you’re into boating or being around water.