The Collaborative International Dictionary of English v.0.48:

Ointment \Oint"ment\, n. [OE. oinement, OF. oignement, fr. F.
   oindre to anoint, L. ungere, unguere; akin to Skr. a[~n]j,
   and to G. anke (in Switzerland) butter. The first t in the E.
   word is due to the influence of anoint. Cf. Anoint,
   Unguent.]
   That which serves to anoint; any soft unctuous substance used
   for smearing or anointing; an unguent.
   [1913 Webster]

WordNet (r) 3.0 (2006):

ointment
    n 1: semisolid preparation (usually containing a medicine)
         applied externally as a remedy or for soothing an
         irritation [syn: ointment, unction, unguent, balm,
         salve]
    2: 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 [syn: cream, ointment,
       emollient]