Right this is my first post on here so be gentle
I have an N reg Golf GTI 8v. I bought it and been running fine in it for just under a month and nothings ever gone wrong with it. Until a heavy rain storm (dont know if this is relevant but i thought i better share all the details of the problem) on the way home from work i did go through some pretty big puddles and i would be surprised if it didnt wet the whole engine bay... it carried on running fine and the next day it wouldnt start. It will tick over fine but wont even try and start.
Ive seen this kind of problem a lot so ive been scrambling around the internet trying to sort this out but its no good. ive been working on this for 2 weeks or so now and im runningm low on patience and funds (im a uni student...)

whenever i turn ignition on there is a little fizz of electricity, the sound of it shorting out, coming from the top of the king lead in the dizzy cap, i am unsure of why this is, especially when turning igntion on??
Anyway, sorry for the long post but i need help as to anyone else can suggest what to do?
Thank you in advance!!