If there was water on the moon, we could colonize it (and take an elevator there). Well, there just may be: Traces of water have been detected within the crystalline structure of mineral samples from the lunar highland upper crust obtained during the Apollo missions.
The lunar highlands are thought to represent the original crust, crystallized from a magma ocean on a mostly molten early moon. Over the last five years, spacecraft observations and new lab measurements of Apollo lunar samples have overturned the long-held belief that the moon is bone-dry. The new findings indicate that the early moon was wet and that water there was not substantially lost during the moon’s formation.