electrical

Hello, I'm trying to replace a garbage disposal that just burned out. The old one was a ISE Badger 1 (1/3 hp). Hardwired with a wall switch above the counter and has its own circuit. I'm thinking of replacing with the American Standard slimline (1.25 hp) from costco, even though it is plug...

I just bought a house that was built in 1977. When I opened the well, I found the electrical connections in the following photograph at the top of the well. This concerns me as there is condensation at the top of the well that seems to me to be perilously close to causing electrical shorts...