One of the women is a wife who puts on a mask to fight, other is a maybe a merc, I can't remember much about the third. There is an evil wizard fight at the end. There was a second movie made about people hoarding water. Can any one please help.

It is called The Heroic Trio.

Sorry, The Heroic Trio is the first film. I think the film you are asking about is called the Executioners. The Executioners is the Sequel to the Heroic Trio.