Since many towels can be very linty, I use a sports chamois, especially when I am on a live-aboard and opening the camera when it is fresh out of the water several times a day. The chamois works only when it is already moistened.
Whenever you remove the synch cord from a port such as the Ikelite or a Nikonos 5 pin port (from the camera or the strobe end), I highly recommend using a dry paper towel wrapped around the cord as you slowly pull it out (downward, as always so that any stray droplets spill down and away from the synch port rather than into the exposed contacts.) Immediately use your little finger (or similar) to stuff a dry portion of the paper towel into the port and immediately absorb the water that is on the threads of the synch port.
All of this is done only after rinse/soak in clean fresh water, of course.
enjoy the journey,
Cathy