The hottest part of a chilli is white part that holds the seeds to the flesh. It has a compound called Capsaicin which is responsible for for the burning sensation after ingestion. To reduce this burn the best product to be used is - Milk. Milk has a protein, named Casin which envelopes the Capsaicin, thus reducing the burning effect.
ps; Water is of no use, instead it would aggravate the pungency by spreading the Capsaicin to other parts of your mouth.
