Water is water, isn't it? Well?
Not really. Haven't you heard the well-coined phrase, "It's the water."? Have you ever noticed that some water tastes really good and some doesn't? It's all because of mineral content. Minerals from the ground dissolve into the water and alter it's flavor. Calcium, potassium, sodium, chlorine, fluorine, lead, copper, zinc, arsenic...wow, that's not good! Fortunately for us there are water purity laws that protect us from toxic substances, but many water treatments add chemicals that aren't good for beer at all, like chlorine and fluoride. Luckily these substances will be removed during the boil, so we don't have to worry. But what about the taste?
Chances are that if your water tastes good out of the tap it will make good tasting beer. If it doesn't taste so good, you may have to filter it or buy bottled water. The only problem with filtered water is that some beer styles require higher levels of mineral content than filtered water has. Many beers, like English Pale Ales have traditionally been brewed with water from rivers high in mineral content. Others, like Czech Pilsners were brewed with ultra-pure local water having very low mineral content.
Waterology, anyone?
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You can add minerals (available at your local homebrew supply store) to purified water to increase the mineral content. Many books have been written about brewing that include water chemistry and explain what mineral content is appropriate for particular beer styles. Again, if your water tastes good out of the tap, use it!
All-Grain brewers need to know a little more about water chemistry than extract brewers. Things like pH of mash and sparge water, mineral content appropriate to beer style and preparation of water for brewing (removing chlorine and fluoride by boiling) should be of more concern to them.
Did you know that brewers brew with "hot liquor"...they clean their equipment with "water".