Rust preventive, metal protective
I started using R.I.G. (rust inhibiting grease) on handguns forty years ago. More years ago than I can remember I got a large can and a couple of small ones that I dip into with a Q-tip every now and again. Apply it to a pistol and wipe it off with a Hoppe's silicone gun cloth. The cloth becomes impregnated with the RIG as well as the silicone it came with.
Then I keep one of these cloths in the razor strop area. When I'm done with a shave I rinse the blade, wipe with a Kleenex tissue, and strop 20 round trips on leather. Last and certainly not least, I give the blade a wipe with the RIG impregnated gun cloth. Even here in the humid South FL environment I don't get rust on my razors. (knocking on wood just for good measure) :)
They went out of business for a time but now I see that Birchwood Casey has begun selling the magic goo again. So if it is the same formula as the old stuff I would highly recommend it for razors, guns, what have you.