Try thinking about the forces acting on the water (and the bucket) while the bucket is at the top and bottom of the circle. Draw a free body diagram or two, it should help you out a bit.
Hi, i just thought i would add a question to this, its not for my homework, but more for my own knowledge
how can you explain why the water stays in the bucket without using the centrifugal force? i understand the centripetal force pulling inwards, the gravitational force downwards, there is some tension on the rope, but i just need the final bit...?