If there is something in your oil, (and you didn't pour off some into a clear mason jar which would have made it easy to see), then ;
if you stir the oil with a rod or stick that is touching the bottom, it will create a trail that follows the stick. If there is metal in the oil, you will see a shiny trail, the color indicating the type of metal.
If your oilpan had too much oil in it, the crank will beat it up and make it frothy. The frothiness will dissipate in a few minutes. The froth is a mixture of oil and air, and does look sortof milky.
Also, if your PCV is not working, or if the engine is run for short periods such that the oil never warms up,then the crankcase will grab airborn moisture as it heats and cools,and make an ugly looking emulsification that you can see when you remove the filler cap in the valve cover. Invert the cap, and sometimes there will be liquid water stuck under it. This is the same way water gets into your vented fuel tank; namely the natural breathing with temperature changes.
If you see it in the cap, then it is also under the valve covers.
If you still suspect water in the oil, elevate one side of the pan about an inch, and any water in there will collect on the low-side.
