Lutheranism connects Christ's baptism with our own. In Christ's baptism "God mingles Himself" in the water, thereby sanctifying it with Himself.
The "Flood Prayer" is an important prayer that is included in the Lutheran Rite of Holy Baptism, Here is a form of the Flood Prayer:
"Almighty and eternal God, according to Your strict judgment You condemned the unbelieving world through the flood, yet according to Your great mercy You preserved believing Noah and his family, eight souls in all. You drowned hard-hearted Pharaoh and all his host in the Red Sea, yet led Your people Israel through the water on dry ground, prefiguring this washing of Your Holy Baptism. Through the Baptism in the Jordan of Your beloved Son, our Lord Jesus Christ, You sanctified and instituted all waters to be a blessed flood, and a lavish washing away of sin. We pray that You would behold (name) according to Your boundless mercy and bless him with true faith by the Holy Spirit that through this saving flood all sin in him which has been inherited from Adam and which he himself has committed since would be drowned and die. Grant that he be kept safe and secure in the holy ark of the Christian Church, being separated from the multitude of unbelievers and serving Your name at all times with a fervent spirit and a joyful hope, so that, with all believers in Your promise, he would be declared worthy of eternal life, through Jesus Christ, our Lord."
The prayer connects the flood language used by St. Peter in his epistle, Christ's own baptism, and our own.
In 1534 Luther delivered a series of sermons about Baptism, included in these we find quotes such as:
"For we see how God in heaven pours out his grace through his Son’s baptism. Heaven, which before was closed, is opened by Christ’s baptism and a window and door now stand open for us to see through. No longer is there a barrier between God and us, since God himself descends at the Jordan. The Father lets his voice be heard, the Son sanctifies baptism with his body, and the Holy Spirit descends in the form of a dove. Is this not a great manifestation, a truly great sign of how precious baptism is to God, that he does not abstain from it?"
It is simply not possible to disconnect what happened at the Jordan River with what happens when we ourselves come to the waters of Holy Baptism: Here is God, Father, Son, and Holy Spirit. Here is the water of life, sanctified by Jesus Christ, from God the Father, by the power of the Holy Spirit; which by Christ's Word and Institution delivers us, washes us, cleanses us, by which we are born again of God and made partakers of Eternal Life.
Yes, we do insist that it is not "water" that saves, it is the Word; but it's as impossible to separate water and Word in Baptism as it is to separate heat and light from fire. It is these two, together, that constitutes baptism: Water and Word. Which is why St. Paul says in Ephesians that Christ has cleansed His Church by the washing of water with the Word. "washing of water with the Word", the two are together, inseparable: Holy Baptism. And thus this is not ordinary water, but indeed saving water. Water and Word, water and the Spirit, water and God the Father. God is here. He baptizes, He washes, He cleanses, He renews, He is Author of it all.
Addendum: This is true of also Scripture and all the Sacraments. Indeed, ink and paper have no power, and yet when the Holy Gospel is proclaimed, and read, and the powerful words of Holy Scripture bear forth, it is not the word of mere men, it is not dead letters on a page, here are living words, from God; God Himself speaks, and here is Christ Himself, here is the Holy Spirit bearing and bringing these living, powerful, divine words not merely into our ears and mind, but into our hearts, changing us, bringing faith into us. So that the Bible itself is a Holy Mystery, because here is the Christ-bearing text. To call Scripture the word of God is not to confuse it with the Second Person of the Trinity; but here, truly and certainly, is the Second Person of the Trinity for us.
Word and Sacrament.
-CryptoLutheran