Man's purse is totally damp on the outside (6)
I believe the answer is:
wallet
'man's purse' is the definition.
'wallet' can be an answer for 'purse' (I've seen this before). I'm not sure about the 'man's' bit.
'totally damp on the outside' is the wordplay.
'totally' becomes 'all' (I've seen this in another clue).
'damp' becomes 'wet' (similar in meaning).
'on the outside' is an insertion indicator.
'all' going within 'wet' is 'WALLET'.
'is' is the link.
Can you help me to learn more?
(Other definitions for wallet that I've seen before include "Money-holder" , "A man's pocketbpook" , "Folding case for money" , "Billfold (US)" , "Shepherdess of rhyme" .)