American Orchid Society Phalaenopsis culture notes are in the link. Doesn't sound too promising. Similar problem discussed down the page a bit where the Phal is packed tightly in moss. Your plant may have no live roots left.

Here is a link that might be useful: AOS culture notes

If I were you, I would take the orchid out of the pot. Gently clean out all the mushy squishy off the plant. Find a plastic container, pot if it is possible. Cut hole around in the bottom and around the pot. Pot has to be the size that fits the plant back in there snugly. Then I would soak the bottom of the plant with ROOTS. I found that in Canadian Tire but I think you can find that in Wal-Mart too. What I did was took a spoonful of that mix it in a yogurt container with tepid water high enough to cover all what is left of the plant except leaves. While the plant is being soaked, you can prepare the medium in the pot for the plant. I bought the medium in Walmart in a black bag said "Orchid Mix" which is premixed for you with all the bark, perlite and charcoal. Instead of soak the mixture in water for 24 - 48 hrs as suggested on the bag. I boiled it on the stove for 10 min. (This I learned from my orchid lady friend). Then you repot the plant as how they show you on youtube.Note: I am new to orchids myself and I learn a lot from people on this site. What I did for my "ready to throw out" phals, I saved them from dying and some of them even giving me spike right now. I thought they were hopeless too. But, I did that in the mind of "if this doing is good, you'll live and love me, if this is no good, you were going to die anyways". So, It's a risk if you willing to take it. Otherwise, wait until someone who can tell you exactly how to save that plant. I just passed on what I did to mine.

Good luck,

Tanie