Step 1: Acidity is determined by the stability of the conjugate base formed after losing a proton.
Phenol (\( C_6H_5OH \)) is more acidic than water and ethanol due to resonance stabilization of its conjugate base (\( C_6H_5O^- \)).
Ether (\( CH_3OCH_3 \)) does not release protons easily and is least acidic.