While the feast of Epiphany in the Roman Rite is primarily focused on the visit of the Magi, historically it was more focused on the baptism of Jesus Christ in the Jordan River. For this reason, there developed a special blessing of Epiphany water in memory of Jesus sanctifying the waters of Baptism.
This blessing of water on Epiphany was maintained by Eastern Catholics, but Roman Catholics also have an optional ceremony that was approved in 1890 that did homage to this tradition.
The emphasis of the blessing, however, was less on the commemoration of Jesus' baptism and more on the symbolic nature of water as a cleansing agent. In this way, the blessing of Epiphany water in the Roman Rite was used to cast out Satan and all his demonic angels.
It is a powerful blessing, one that uses strong language to invoke the power of God over evil. It reminds us of the spiritual power of holy water and encourages us to use it in faith, trusting in the protecting help of God over our spiritual enemies. Here is an excerpt of the prayer, which is quite lengthy.