Water pumps rarely fail but just like anything else on a car or vehicle the water pump can eventually fail.
When a water pump is going bad it usually will start leaking first or make noises such as squealing or screeching noises which means the bearings in the water pump are failing.
When your water pump does completely fail then your serpentine belt can break and also your car or vehicle will overheat because the coolant cannot get pumped through the radiator and engine.
If your water pump has never been replaced and you have 100,000 miles or more on your vehicle then I would highly recommend getting a new water pump.
You don't want the water pump to fail.
On some vehicles you can easily and cheaply replace the water pump with a new water pump for $25.00 to $50.00
But on some vehicles they can cost more and be harder to replace.
But still it's a good idea to replace it for peace of mind.