The T&P (temperature and pressure) relief valve is the most important safety device on your water heater. If the thermostat fails and the water overheats, or if pressure builds beyond safe limits, the T&P valve opens and releases water to prevent the tank from rupturing. A ruptured water heater is not a leak -- it is an explosion that can launch a 40-gallon tank through a roof. Testing the T&P valve takes 30 seconds and should be done annually. If it does not work, replace it immediately -- $15-$25 part, 15-minute job.