Shaking water inside bowl causes waves but why does the water stabilize? Suppose you shake water inside a container, then at first the waves goes up and down strongly but they gradually dissipate.  What makes them dissipate?
 A: If the bowl is stationary, then the kinetic energy of the fluid get's slowly transformed into heat via the viscosity of the fluid. As the waves deform the fluid, those deformations cause shearing which dissipates energy and diffuses momentum. The momentum is ultimately transferred to the bowl and then whatever is holding the bowl still, while the heat from the energy dissipation typically will heat the fluid (but only a negligible amount).
The length of time this dissipation takes is related to the fluid's kinematic viscosity, $\nu$ ($=\frac{\mu}{\rho}$ the absolute viscosity divided by the fluid density) which is why a dish of acetone takes a long time to settle compared to water, and why oils settle very quickly (unless they are so thick that a single "wave" takes a long time to flatten, but in that case it's not really a wave)  
A: kinetic energy of the water molecules decreases with time because the water molecules transfer the acquired kinetic energy to the bowl . thus KE decreases . hence , the waves dissipate
A: The largest energy losses after you stop shaking the bowl actually are not dissipated heat due to viscosity and action of water molecules upon one another. While those losses occur while you are shaking the bowl, after you stop shaking, the wave becomes very regular. This steady state motion of the water you observe after shaking is a standing wave, a mini seiche with a frequency of oscillation that is determined by the dimensional properties of your bowl and the force of gravity. 
The majority of energy losses in the standing wave do not occur within the body of the wave and shearing forces, but rather in the boundary layer near the wall of the bowl. In the standing wave the body of water is moving more or less as a whole. Also, some of the losses occur at the air-water interface since the water works to displace the air molecules above with each cycle of oscillation.
