There are multiple artists with this name:
1. Watershed is a South African band featuring lead singer Craig W. Hinds, who also plays piano and acoustic guitar, alongside Nic Rush (guitar), James Sunney (bass guitar), Peter Auret (drums), and Hylton Brooker (keyboards).
Watershed became a 'natural' success when a German radio DJ heard the single whilst vacationing in South Africa, and played it on the air in Germany. They are most famous for their signature tune "Indigo Girl". Three of the four albums below (In the Meantime, Wrapped in Stone, and Mosaic) are by the South African Watershed (not the US group).

2. Watershed (US) is a power pop band based in Columbus, OH, heavily influenced by The Kinks and Cheap Trick. The most recent Watershed lineup consisted of Colin Gawel (guitar, vocals), Joe Oestreich (bass, vocals), Dave Masica (drums), and Joe Peppercorn (guitar). Mark "Poochie" Borror (guitar) and Herb Schupp (drums) played in previous lineups.

3. A third, unrelated Watershed was a 1990s emo band. They released one split 7'' with Shotmaker in 1994.