Drain the bucket, it's the poorman's way to catch condensation from the furnace. The correct way is to install either a gravity drain or a condensate pump to rid the furnace area of this acidic water. This may solve your issue. If not clean the flame rod or sensor with a stiff brush or steel wool. The sensor looks like a rod and is usually found next to or in front of the burner. Do not mistake the igniter as the flame rod. The igniter will have two wires going to it and may be very brittle even to the touch. Prior to doing this, cycle the system and note which component glows orange prior to lighting. This will be the igniter.
The water is a byproduct of combustion. Your system is a high efficiency unit and instead of a lot of water vapor being expelled from the vent, it is being displaced as water. This is a good thing and yo are probably getting 90% or more efficiency out of it.