Sorry, but it is a digression. The OP asked about applying a sealant to
some molding, not waterproofing techniques. Caulking the baseboard
is just as likely to hide problems as prevent them. If water is behind the
caulk it won't readily seep out and let you know there's a
problem (not all 'leaks' are from klutzes spilling stuff inside their
houses).

Sort of like he Plumbing inspector in Tucson "insisting" I caulk my 3
toilets [New Construction] to the (tile) floor (over concrete slab)
I told him that "if" the wax ring was allowing leakage, I'd rather see it
RIGHT AWAY (on top of the tile) than let it seep thru the grout over time
and get under the tile and spread out under there B4 I could find the source
of the inevitable smell. He said the rules are the rules, so I put some
silicone spray under the edge of the toilets, wiped back and did a light
ring of DAP caulking. After he left, I stripped the caulking back off.
(PS: They never did leak anyway)