I don't quite understand what you are asking for. Could you explain in a little more detail?
Sure! Imagine that the waterbox is indestructible, and when the the hand (or de iron ball, hammer) punch/hit the waterbox its morphed/transformed into water!
sorry my bad english.
the hand change to water, not the waterbox
Get some stock footage (or shoot footage yourself) of some water splashing.
Use AE's warp tools (and multiple layers of splash footage) to make the water splashes fit the shape you need then animate it quickly going to its original shape.
That's one way. I'm sure some folks here can think of some other ways.
Is this going to be an animation of these things happening or is your example image just a storyboard and you're planning to use real footage of a hand, wrecking ball, etc.?