Sorry if I'm flooding you with observations...

[Maahes]

So I tried something from the hints, dipping my sword into a well.
Since it seems there's no *dip* command, I dropped it on the well
tile.....and it ate my sword.

Am I doing this right?

[Mario Donick]

You did it fine. Dropping is context based, i.e. dropping on a well
dips it, dropping on an altar sacrifices, dropping on another item
tries to combine the dropped item with the item on the ground (i.e.
certain weapons with crystals; meat with bread), dropping on a trader
sells.

It just had no effect. :) Try potions, for a start.