Remove any remaining standing water. Depending on the amount of water, this can be as simple as mopping up the remaining puddles. In large-scale water damage cases, you may need to rent a sump pump from a hardware or home improvement store to pump out the remainder of the water.
Ventilate the basement area by opening any doors or windows that are safe to open. Install fans in these exit areas to encourage the flow of fresh air. Activate dehumidifiers in the basement to help all material dry out.
Dispose of any soft materials that have been severely water damaged or have begun to grow mold. This can include ceiling tiles, mattresses, carpet, furniture and papers, among other materials. It will be impossible to clean mold and water damage from these surfaces.
Vacuum all solid surfaces, including walls, solid ceilings and floors, with a wet/dry vacuum to remove excess water. Inspect all surfaces for mold--if you find any, continue to the next step.
Wear protective gloves and a respirator when cleaning mold infestations--mold can be hazardous to your health if it contacts your skin or lungs. Apply a 50/50 mixture of bleach and water to mold-infested hard surfaces and allow it to work for 30 minutes. The bleach will kill the mold.
Scrub moldy surfaces with a scrub brush dampened in your water and bleach mixture. Clean until all visible signs of mold are gone.
Vacuum the entire area with a high-efficiency particulate air (HEPA) vacuum after mold cleanup. This vacuum will help to eliminate excess mold spores in the air and in the surfaces, helping to prevent the mold from returning.