Bacon Ranch Potato Salad

3 pounds new potatoes (cut into 1/4-inch slices)
1/3 cup cold water
1/2 cup Miracle Whip salad dressing
1/4 cup Kraft Ranch salad dressing
1/4 tsp salt
1/4 tsp pepper
1/8 tsp garlic powder
6 slices bacon (cooked crisp and crumbled)
1/2 cup celery slices
1/2 cup red pepper strips
1/2 cup sliced green onions

Place potatoes and water in 3-quart microwave dish and cover. Microwave on high for 14 to 16 minutes or until tender, stirring after 8 minutes; drain. Mix dressings and seasonings in large bowl until well blended. Add potatoes and remaining ingredients; mix well. Refrigerate for at least 30 minutes before serving. Makes 8 cups.