Condensation — the case where nothing is wrong
Very commonWater is a product of normal combustion. On a cold start it condenses inside a cold exhaust and leaves as visible vapor until the pipe heats up. This is the single most common reason people arrive on a page like this one, and in most of those cases the car is fine. See white smoke from exhaust for the test that separates this from the version that is not fine.
How to spot it
Thin, disperses within seconds, stops once the engine is fully warm, and the coolant level has not moved in weeks.
The fix
Nothing. Confirm the coolant level is steady over a few days and stop worrying about it.