Meaning

noun semisolid preparation (usually containing a medicine) applied externally as a remedy or for soothing an irritation

noun toiletry consisting of any of various substances in the form of a thick liquid that have a soothing and moisturizing effect when applied to the skin

originA later form (as if oint + -ment) of Middle English oinement, borrowed from Old French oignement (“an anointing”), from oigner, oindre, ongier (“to anoint”), from Latin ung(u)ō (“I anoint”), from Proto-Indo-European *h₃engʷ- (“to smear, anoint”). Partly displaced native Old English sealf, whence modern salve.

Etymology from Wiktionary, CC BY-SA 3.0