A water bath does not really do it, it just makes the resulting accident site wetter.
There are containment systems that can control and redirect the escaping gas in an explosion and contain any shrapnel, but they are spendy and slow down the tank fill process and due to space considerations and they tend to reduce the number of tanks that can be filled at once.
One approach that works pretty well and is reasonably cost effective, but not always practical in some dive shops is to have the fill whips on one side of a block wall or piece of suitable steel plate and the fill valves and pressure gauges on the other. Then if a tank ruptures, no one will be in the direct path of the blast or fragments.