A failure mechanism of thin film polymers immersed in water is presented: the formation of blisters. The growth of blisters is counterintuitive as the substrates were noncorroding and the polymer does not swell in water. We identify osmosis as the driving force behind the blister formation. The dynamics of the blister formation is studied experimentally as well as theoretically, and a quantitative model describing the blister growth is developed, which accurately describes the temporal evolution of the blisters.