Soaking them in water may prove to only be a temporary fix. They may start cracking again once they start drying out again. I agree with an earlier poster that some neatsfoot oil would be a worthwhile effort. I would like to compare that with getting a good moisturizer for your dry hands as opposed to just soaking them in water hoping that cracks and dry skin will go away because they get hydrated.
And whatever you do, let them dry very slowly. Maybe put them in the fridge or something.