I have recently found ample amounts of water in my power steering reservoir. I have changed the fluid 3 times and each time, its a little murkier. I realize that the fluid soaks up water but i have used new fluid everytime. Any thoughts on what may cause this and how to fix it is much apprecaited. Thanks.

 

Unless your power steering is equipped with some sort of fluid cooling system, thre is no way to get water in the system, unless omeone pours it in.
By the way, power steering fluid does not absorb water, it is basically a light oil. Hope you didn't fill the reservoir with brake fluid, which does absorb water, and eventually mess up your steering system.