After seeing some of the fantastic high speed photography of water droplets I wanted to give it a try myself. Searching the net only gave me the same answer, that I would need some high tech stuff to get the accurate amount of drops and so on.
Hmm, a challenge? Duh!
I used my 450D and built in flash, an oven pan and a small clear plastic bag with water.
In the oven pan I placed some water. The amount of water will depend on you and how high you want the drop to go.
I positioned the pan in a well lit area, placed the plastic bag with water above the pan (can't remember what I used to suspend it) with a corner of the bag facing down like a triangle.
I set up my camera with a fast shutter speed around 1/60, on a tripod and aimed the camera at the area where I thought the drop would be. Now all of this is trial and error and don't expect to get the perfect photo straight away.
I made a small hole in the corner of the bag just enough to let the water drop about every 4 seconds. Looked through my lens to see if I was where you should be. Once happy, I made sure my flash was on. This is where you start preempting when the next drop will fall and how fast. With some practice you will get it. I used continuous shooting mode but that is slowed down by the flash.
For more inspiration: http://www.lightstalking.com/water-splash
And for ideas: http://www.diyphotography.net/strawberry-splash-thoughts-about-high-speed-photography