I just consider it “good enough”. It’s not a terrible lubricant even if it was never designed to be one.
For penetrating oil I prefer liquid wrench.
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Jig-a-loo or whatever it's called... smells ok, doesn't stain.
3-in-1 oil for door hinges. If properly applied, will stop squeaking doors for about 10 years.
Yup, I've used this to lubricate a padlock
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WD-40 is a light mineral oil suspended in a penetrating solvent. When the solvent evaporates, the light oil remains - hence why WD-40 is both a penetrant and topical lubricant where light oil is called for. It's not the best lube in the world, but it's great for getting some lube into areas that a heavier oil (like 3in1) may have difficulty getting to.
What about for the hinges on garage doors? @AndyL
I have used graphite lube before and it worked pretty well for metal on metal contact. WD-40 works too, but the oil will work it's way out of the hinge and it gets pretty black.
As a bit of a garage door noob where would I apply any lube mine is super squeaky? And should the chain / drive part be lubed too?
The ghetto yet easy, free, and effective solution is to pop out the middle hinge bolt, lay it on concrete, smack it with a hammer a few times for a very slight bend then re-insert. The added friction from the bend will keep the door from moving on it's own (unless it's really crooked or a heavy ass door). I've done it to a few doors over the decades and never had any issues as a result.
Rollers (wheels in the track) pivot points on the hinges. Chain minimally doesnt need it (unless its siezed/rusting). The pivot does but usually has grease liberally applied. Bottom couple inches of the cables are good to prevent rusting through... Bearings beside your drums (where the cables run up to). Thats about it.