You are at a point where you know a little, but still don't know what you don't know.
This is a very good point, and thank you. I've filled in my profile. If you will allow me one final moment to explain my thought process on why I proceeded, and then I'll say no more on the topic:
I'm 49 years old and just started making knives. Everything I know for the most part I've learned from watching youtube videos and "Forged in Fire." I only recently (see
this thread) learned such terms as "normalizing" and "annealing." I knew enough to know it was bad that this piece fell in the water, so I came here to ask if it could be saved. The consensus of responses from professional knife makers was that it could be saved, but the risk of failure was not worth the expenditure of their time. Steel is cheap, time is money, it's not worth the risk. None of those things applied to me. I do not buy steel in a volume that would make what I would be losing "a $5 piece of 1095." I have no intention of trying to sell this knife or any other knives anytime in the foreseeable future, so, for me, time is not money.
Having all this in mind, I thought about what I'd put into this project already. What I was doing was trying to make a railroad spike knife. Everyone loves a cool spike knife, but we all know the steel is too soft to hold an edge. I was trying to forge weld the 1095 onto the spike to be the edge of the blade. I'd already drawn out the spike and twisted the head. I flattened the spike portion and made a "taco" for the 1095 to go in (season 3 episode 1 of Forged in Fire). I'd forge welded in the 1095 and was starting to thin out what would have been the edge portion when it fell in the water. Now you guys probably have the skills and tools to bang out such a project in short order, but to me, it was a LOT of work to get to the point. After seeking advice here, and getting the advice I got, I saw myself with two options: 1) I continue on. Maybe my project is trash, maybe it's not. 2) I throw it away, and my project is DEFINITELY wasted. I chose option 1.
Again, I thank you for any and all assistance. I am a sponge and am here to soak up all I can get--like your tip on identifying cracks. That is absolute GOLD. I use ferric chloride, but this tip let me know I was etching all wrong!