No, holy water is not intended to be used for bathing or drinking. It is a sacramental that is used to remind ourselves of our baptism. An ill person who may be in danger of death should receive the anointing of the sick. A baptized person in need of spiritual cleansing should go to confession. Sacramentals do not take the place of sacraments and should not be used in a manner contrary to their intended purpose.
On the subject of sacramentals, the Code of Canon Law states:
The rites and the formulae approved by ecclesiastical authority are to be accurately observed when celebrating or administering
Sacred objects, set aside for divine worship by dedication or blessing, are to be treated with reverence. They are not to be made over to secular or inappropriate use, even though they may belong to private persons (canon 1171, emphasis added).
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