Ignoring air resistance is a good approximation in this case:
- your resolution of the actual time is probably pretty coarse so there's (EDIT TO ADD: no) need to make other parts of your calc significantly more accurate than your least-accurate portion.
- your speed was quite a a bit lower than your terminal velocity, therefore the drag would have been a very small force relative to gravity's.
To confirm this, do the calculation with air resistance set to zero, and then see if your initial estimate of time and impact velocity are in the "air resistance is negligible" regime, or if it could have been significant.
So: with no air resistance d=1/2*a*t^2, and in ballpark numbers d=10m and a=10m/s^2 -- so t=1.4seconds; this should match your measured time, if not work backwards from your measured time to get "d" in this no-air-resistance scenario.
Work out your highest speed i.e. just prior to impact: v=a*t. With the above numbers we get v=14m/s
Now compare this speed to the speed at which air resistance matches your weight. From skydivers we know that a human body has a terminal velocity of about 120mph in a horizontal position and about 180mph in a diving position. Going with the lower one, 120mph is about 180ft/sec which is about 60m/s.
So you reached about 1/4 of terminal velocity (14ms / 60m/s). Air drag scales with the square of velocity so the greatest air drag force you experienced (just prior to hitting the water) was (1/4)^2 or 1/16th of your weight, which is about a 6% error. Averaged over your fall it would have been much less than 2%, and since your timing probably isn't to 1%-2% precision, it is therefore a sound judgement to neglect air resistance.
EDIT TO ADD: d=1/2*a*t^2 is the standard formula for the distance covered by an object under constant acceleration, starting from rest. It can be obtained by integrating the formula v=a*t which is the standard formula for velocity attained under constant acceleration, starting from rest.