No. I used to remoisten my herb with a slice or two of potato. I'd leave it in the bag for about 12hrs and my buds would come out dankish again. not too wet, but just right.

And yes, water will promote mold, but so does anything that has a lot of moisture put back into it. Just be careful not to let it sit around too long in the dark. Some it right away if you re-moisten.

I don't care much for doing that anymore though. I just smoke it now. Not a big deal anymore I guess.