water drip from exhaust pipe and muffler

Yes, this is perfectly normal for all engines even if most people don't notice. The combustion of fuels, both gasoline and diesel yields carbon dioxide (CO2) carbon monoxide (CO) and water (steam) mostly. On a cold engine that steam will condense to water and drip from the muffler weep hole and exhaust pipes. My Taurus will leave a puddle of water on the garage floor if left to idle five minutes. This is a sign of near perfect, clean combustion and it runs perfect too...fast and efficient.

Another piece of interesting trivia: I had a mechanic tell me that for every gallon of gasoline an engine burns, it will produce eight gallons of water. I believe that's true. The Hydrogen comes from the gasoline and the Oxygen comes from the atmosphere. Combining H + O make H20 or water.