'98 Honda Accord- Grinding noise from main drive belt after hitting a pot hole

My twin sons recently got a “hand me down” '98 Accord from their uncle. It has approximately 250K miles on it. One of my sons recently hit a pot hole in the car and immediately noticed a grinding sound coming from the engine. I checked it out and it appears to be coming from the serpantine (main drive) belt. I noticed some melted rubber on the surrounding hoses and motor parts and the pulleys. My son observed that after hitting a puddle that the grinding sound briefly went away. What do you think the problem is?