There sure are heavy boots. They let Link sink underwater and traverse the bottom of lakes and temples. They also make him heavy enough not to get blown off course by strong gales.
These sure are the worst item in the game. The hover boots let Link hover in the air for a couple of seconds. They're also extremely slippy and make him slide off of platforms if you're not careful, and make the fight against the dungeon boss an absolute nightmare.
BOOTS