Over a few forums I have been reading people are saying after a spill they give their computers an alcohol bath. I can't find much info on it however. Is the purpose just to clean off all the junk like sugar from a drink or coffee? I know it wouldn't bring a computer back to life I am just curious why people would put even more liquid on their computer?
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As for the keyboard having liquid damage, you are apparently able to power it on (even though you only see a light and hear the fan), so the keyboard is not so damaged as to affect the power button, at least. There maybe damage to the actual keyboard, but you have bigger issues -- getting the computer working as a whole.
Again, try one memory module with the other slot empty. You can connect the machine to an external display to see if you get an image, although I wouldn't expect you'll get one.
You most likely have a bad board. If the optical drive is firmly connected and it's not feeding in a DVD, that's a sign that the board has power issues. You could try replacing the DC-in first, but most likely you'll have to replace the board.