I think the black boxes that were in the planes that crashed into the WTS were completely destroyed. Not that it would have made a difference anyway.
Of course there are other scenarios, staying too much in the water would result in irreversible damage to your skin, unless you get eaten by a shark prior to that or simply dying from hypothermia.
As for pressure and altitude, I am not familiar with those to give other conditions where the parachute idea might fail.
You can't parachute out of a plane for several reasons. It's just not feasble in pretty much every instance. You can't even open cabin doors due to cabin pressure. Jets just arent made to be jumped out of. Anyone jumping out of one anyway would likely just get sucked into the jet engines or go smashing into the tail section.
If I remember correctly, there was a person who jumped out of a plane with a parachute back in the 50's or 60's. He had a gun and stole something like a million dollars and hasn't been seen since. He didn't use a normal door though. Rather, he jumped from a door at the back of the plane.
And I believe it is possible for the captain to depressurize the cabin too if required. Once a captain forgot to turn this switch on and as the plane took off, everyone inside slowly passed out. Happened in Greece I think.
http://en.wikipedia.org/wiki/D._B._Cooper
Yup, that's the one. Seems like it was a bomb rather than a gun however. My mistake.