Most waterbed mattresses are filled through a fill valve. Make sure to follow the directions that come with the waterbed mattress and use this as your guide. After running a hose to get rid of old water, which may contain bacteria, attach it to the valve and begin filling. Lie on the mattress and see how it feels to see if you've filled it enough. You will want to be parallel to the floor. If your head is below your midsection, it's too full. If your midsection is lower, your mattress is not full enough.
Draining water out of a waterbed is a bit more difficult than filling one, but is still relatively simple. If you have an electric waterbed pump, attach a hose to one side and the other side to the valve. Turn on the pump and let the water drain out. If you don't have this item, set something heavy, but without sharp points, on the waterbed to let the water out of the mattress. Have several buckets ready to catch the water, as well as towels on hand to clean up any spills. You may want to do this outside to avoid a mess.
The waterbed was invented in the late 1960s. In 1969, Charles Hall applied for a patent on a forerunner of the waterbed. He created it as a graduate student in San Francisco and began selling it out of the back of his van. It evolved over the years with the introduction of a frame and heaters.