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Grease
A lubricant in the form of a viscous paste, rather than a liquid oil. Grease is generally a more difficult to apply, because most bicycle parts cannot be greased effectively without disassembly. Grease lubrication is commonly used on all ball bearings. Good mechanics also use grease (or oil) on the threads of most threaded fittings and fasteners, and also inside the steerer (to keep the stem from becoming stuck) and the seat tube (to keep the seatpost from becoming stuck.)
There are a great many different greases on the market with different special features, mainly for automotive applications. For bicycle use, almost any grease is adequate, since the loads and temperatures are generally low. In wet conditions, a water-resistant grease is preferable. Coaster brakes need a heat-resistant grease.
