• Shift into a lower gear, release the clutch pedal (for manual transmissions) and apply the emergency brake.
• If your automobile has an automatic transmission, apply the emergency brake and move the gear lever into the low range position.
• Be Advised: This action can potentially cause damage to the emergency brake and to the transmission, but under the circumstances of brake failure, there is no better choice.

If your brakes become wet, you can dry them by:

• Drive the vehicle a short distance
• Apply light pressure to the brake pedal.
• The heat generated by the friction of the brakes against the brake drum will evaporate the water from the brake linings.
• To prevent excessive wear on brakes when moving down a long hill or steep grade, use a lower gear instead of the brake pedal to control speed. Shift to the lower gear at the top of the hill, before you descend.

Source: North Carolina Department of Transportation