you can make this logo with photoshop.after writing the text,you should go to layer effect>stroke and a stroke a little to obtain the light blue outline.and for the darker outline,you can ctrl+click the text layer,then expand it to have the same outline of the stroked portion.then you can give it a border from selection menu and fill it with the dark blue color and you should get it.......for the splashed portion you can work in a different layer or file and use smudge tool,but this tool is a little bit sensitive,you have to work carefully,and then you can reintegrate it with the text.