I use Beeman MP-5 oil (pat. 9205-04) "the top rated formula in lab and field tests for prevention of corrosion. It's metalophilic (MP), polarized molecules seek metal.....
Lubricates and protects
Neutralizes sweat and salt
Penetrates into smallest crevices
Dries to thin, non-gumming, lubricating film which lasts through indefinite storage
Harmless to steel, non-ferrous metals, wood, seals and leather.
DO NOT USE IN COMPRESSION CHAMBER OF SPRING PISTON AIRGUNS."
I used this stuff for some 5 years and it does seem to work. I apply it with q-tip leave it for 12-24hrs then simply brush off excess with natural hair paint brush and I'm done. I'm careful not to get any on wood.
Unlike that liquid shoe polish Clenzoil it has much less offensive odor to it.