There are two major categories of finishes: penetrating oils and films.
Penetrating oils …uhhh…penetrate the wood fibers, get into the cells and then cure to a hard material. It’s hard to sand penetrating oils off a piece of wood for this reason. These finishes often give wood the gorgeous amber pop you want in a project. Boiled linseed oil and hard-wax oils are examples of this finish. I have used Tried and True Original, Odie’s and Rubio Monocoat to great effect. Osmo requires some finesse to apply, but it does work. Penetrating oils give some protection, but make up for this by often being easy to repair.
Film finishes drop a film of binder on the top of your wood project. The finish does not penetrate the top layer of wood. Polyurethanes (both oil- and water-based), lacquer, epoxy and shellac are examples of film finishes. Film finishes are great choices for hard wearing surfaces, such as table tops, but don’t often don’t repair very well. Two exceptions: shellac and tung oil both get high reparability marks.
Resins are the dissolved solids in a finish that will eventually coat the workpiece after the finish cures. Pigments color the finish and solvents dissolve the solids. Most finishes bought at the big box stores need to be thinned with the appropriate solvent in order to perform at its peak. Woodworkers can introduce pigments to certain finishes - such as lacquer - to create spectacular custom stains and looks. These are Advanced Finishing techniques. There’s lots learn in these advanced topics. A great resource is Bob Flexner’s **Understanding Wood Finishes.**
No matter which finish I use, I always follow these rules of thumb:
I have three go-to finishes for different applications.
For anything which will contact food or mouths, I soak the workpiece in mineral oil. I use wood butter to maintain these projects.