I have several tools (jointer, bandsaw etc.) whose table surfaces
(mostly cast iron) have become rusted due to storage in moist
environments for a time. Any recommendations for:

a) How best to remove the rust (maybe steel wool?)

a maroon 3m (scotchbrite) pad sorta sticks to the bottom of my random orbit
sander, and that and some wd-40 or even dry, gets the rust off.

b) What to put on the cleaned surface to prevent
this from happening again. Wax?

wax. i use butcher's paste wax (s.c. johnson), warmed up and soft, apply a
heavy coat and let DRY, and buff out with a cloth or a buffing pad on an
orbital buffer. i've tried a lot of the spray-on stuff like boeshield and
topkote and hate 'em.

jon e

You can try to buy camphor, it can keep your tools rust free. I put a
block of camphor in each tool drawer. I used the camphor left a
deposit on the metal tools and the deposit seemed to keep away the
rust. you can buy it from http://www.ericscollections.com