Hi!
Yes, this is going to be true. Water is composed of one oxygen, and two hydrogen atoms.
The chemical formula is simply telling you what it is made up of. The number in this chemical formula basically says that there are two hydrogen atoms in this element, which in our case is water.
Another thing to note is that these atoms are connected by a covalent bond.
This means that these atoms are sharing pairs of electrons between them, which is what we call shared or bonding pairs!
Hopefully, this helps! =)