Is there a "right" footwear to use when hiking/walking in the rain?

I moved from a hot (tropical) region to a cold region of the planet.

I used to put on crocs or flip flops on when it was raining, but now I think my feet will freeze if I try to do that.

I've had waterproof leather boots before, but they'll loose their impermable capacity after a few months of wearing them. The stitches will start to come loose and you'll need to buy a new boot.

I'm thinking of buying galoches, but maybe they'll be even less durable than leather boots, they're also not great for hiking or walking long distances, even in the city.

Some military boots are not waterproof but are easy to dry instead. They assume you'll have to spend the day with your feet wet.

Is there a "general rule of thumb" for what footwear I should use when it's raining AND cold?