What type of peach tree? Some peaches are prone to pit split. I have not noticed any issues with over watering during pit hardening, during that time the fruit does not get bigger.
Lack of fruit is more likely caused by a heavy set last year. The tree works so hard to make all that fruit, it neglects good flower buds production. Last year, I had 500 peaches from each of our 3 Red Havens. I pushed the limits but most were very perfect fruit. This year, just as many flowers, but 1/2 the fruit set. Frost was not as issue. many flowers just dried up. To much water is an issue two weeks before harvest, split fruits or flavorless.
Pollination is rarely an issue with peaches. Why?, peaches are self-fertile. Meaning they have boy and girl parts in the same flower. It is nearly impossible for the pollen not to jump the 1/4 inch separation. wind, rain will do the job. Normally I have to thin 10 small fruits for every peach I keep.
Peach trees need to be driven to be very vigorous. This means fertilizing with high nitrogen, I just use 12-12-12. Twice a year is recommended, early spring and early summer. This years vigorous new shoots are next years fruit wood. Be sure to remove this years fruiting wood next spring. Think of it as "farming new fruit wood"
