White milky substance slight engine knock

If you have overheated your car recently, then you possibly have a blown head gasket. Take off your oil fill cap (with engine off) and inspect to see if there is a milky substance underneath the cap. If so, bad news- head gasket. You can also check the oil dipstick for the same substance to verify bad head gasket, but usually it has to be pretty bad (gasket) or driven for a while before exhibiting any signs. The oil fill cap is a pretty good indicator. With the car cool, you can open the radiator cap and look and smell for anything other than coolant (fuel smell or oil slick). If so, probable head gasket.

You need to check the oil and see if the dipstick shows overfill on oil or if you see the white milky substance on the dipstick you may have a blown intake gasket or head gaskets. I would think it sounds like a blown head gasket. Hope this helps.
If you are adding water to the system you have a problem somewhere you might want to run a compression check on the cylinders to see if you have a intake gasket leak or a head leak. How hot did the car get because you might have cracked a head. If you don't see the water in the oil it may be exhausting out the tail pipe.

White smoke is usually a sign that there is a problem with the cooling system. Blue smoke is fuel related.
Have the cooling system checked at a guess I would say this is water leaking into the cylinders which indicates a cylinder head gasket fault. A faulty cylinder head gasket would also cause slight loss of compression which could explain the loss of power. remove the oil filler cap on the engine if there is a sign of a light brown (cream) coloured substance (water contaminated oil) on the cap or in the cover then the head gasket needs replacing also check the dipstick.
Hope this helps.

that sounds as if your engine breather system requires cleaning, the substance is emulsified oil, normally caused by poor oil, lack of oil changes, or possibly head gasket problems, clean out all the breather hoses, filter etc, run engine until warm, drain engine oil and refill with a good quality oil, renew oil filter and then run and check again after a few miles

Water in the oil. If it is running right and feels good going down the road then it ought to be ok but if you feel like its missing then chances are you blew a head gasket. I have known some vehicles that develope that white milky substance on the oil caps and blamed it on condensation mixing with the oil. Changing the oil cap usually cures that problem.

at best you have a blown head gasket ,, hopefully its not a cracked head have the compression checked,, this will tell you right away, also , check your oil and coolant,, if you have a white milky substance in your oil thats water , and for sure you have a minimum a gasket problem

due some droplets of water entering into it k

The milky white substance is water mixing with oil. Oil normally mixes with water in your engine from a blown head gasket, but if your not having any problems with your car I have seen where a little water gets under the oil cap from washing the engine down. Hope this helps.

head gasket gone ,no oil loss?? the water is going in the oil

that is most likely transmassion fluid coming from a brocken line in your radiator, you may need a new radiator.