Not at all complicated, it may seem that way if you've never used sound editor software. This program is WaveEditor. It comes included with Nero burning suite so most people have it and don't even know it. I'm sure there's free sound editor software that represents data in a similar way. You can see from the pic that the peaks are where the sound level goes up. In a speargun shot recording you'd see mostly a flat line beginning and ending with a noise spike/peak. You can easily select a portion of the graphical representation and the time appears on the bottom where I circled. You can also zoom into the graph, where half a second would take up the whole screen. This enables you to select precisely where you want to know the time.
To make the whole thing even less complicated I could use my digital camera with its underwater housing to make a video recording which includes sound. This can be done while actually shooting a fish in open water. The sound data from the video can easily be treated in the same way.
