On November 26, 2001, about 1355 Pacific standard time, a Luscombe 8C, N1577K, sustained substantial damage during the landing roll on runway 26 at Olympia, Washington. The airplane is owned by the pilot, and was being operated as a visual flight rules (VFR) personal flight under the provisions of Title 14, CFR Part 91. The commercial pilot, the sole occupant of the airplane, was not injured. Visual meteorological conditions prevailed, and no flight plan was filed for the local flight. The pilot reported that this was his second touch-and-go landing of the flight. He reported that shortly after touchdown, during the landing roll, he felt a "…hard jolt" and his foot inadvertently slipped off the right rudder pedal. He stated that before he could regain control of the airplane, it departed the left side of the runway and encountered soft, wet terrain. After encountering the soft terrain, the airplane's right main gear collapsed and the right wing impacted the ground. In a subsequent written report, the pilot reported that the hard jolt was a result of the airplane encountering standing water on the runway.