I don't have running water nearby, so here's what I do:
1. brush off the tools that have mortar on them.
2. scrape trowels off with the other trowel
3. wet the tools.
4. brush again
5. air dry - keep them off the ground (notice mine are at least up on some extra bricks)
That just leaves a little haze.
If you have a hose, then you can really rinse and dry them. Take care of your tools and they'll take care of you.
You may also need to dremel your chisels every 10 sessions or so to keep them sharp. That mortar can really dull them. You'l notice a difference.