No — this is a persistent myth. Alcohol is broken down almost entirely by the liver, at a fixed rate of about 0.1–0.15 ‰ per hour, and nothing speeds that up. Drinking water, coffee, a cold shower, exercise or a big meal do not lower your blood alcohol concentration.
Water is still worth drinking — it helps with the dehydration behind many hangover symptoms, so you may feel a little better — but it does not reduce the promille count or make you fit to drive. Coffee can make you feel more alert while you are still legally impaired, which is arguably more dangerous. The only thing that actually lowers your BAC is time. If you have been drinking, plan enough hours before driving, or do not drive at all.