How much impact does water have on a scent?

I’ve often read or heard in a book or movie that rain can wash away a scent, making it hard for a dog to track it. Is this accurate? I believe that crossing a stream isn’t terribly effective for throwing dogs off as well. Is this true or false?

The scent that dogs are tracking is, believe it or not, dead skin cells that you are continually shedding from your body. So, yes, rain will wash away dead skin cells, and streams will never hold them, although the scent on both sides of the bank will still be there.