Chuck Smith explores the story of Peter walking on water, emphasizing that while Peter's initial faith allowed him to do the impossible, his subsequent fear caused him to sink. Smith highlights that Jesus' invitation to 'Come' was not just a call to perform a miracle but also a means for Peter to discover his own weaknesses and Christ's power. The sermon illustrates the tension between faith and fear, noting that while Peter faltered, he was quick to call on Jesus for help, leading to a moment of rescue and reaffirmation of faith. Ultimately, Smith concludes that spiritual experiences must translate into everyday life, as Jesus brought Peter back to the ordinary after the extraordinary.