For minor scrapes and cuts, we either do nothing or wash it off with water and soap. For the rare, more serious cut, we use hydrogen peroxide. For the extremely rare (only happened once in 5 years) really bad cut, we do all of the above and bandage with antibacterial ointment, flushing with hydrogen peroxide several times a day, too.
For vomiting/yuck-butt illnesses, we do water and pedialyte. I learned how to keep an eye on dehydration (there are at-home tests you can do to verify that a kid is or isn't seriously dehydrated). Very small, but frequent sips of pedialyte are the way to go there. And if that doesn't work, you gotta go to the ER for IV fluids if your kid is becoming dehydrated. And if your kid has a really serious gut virus, you have to keep a very, very close eye on their hydration. It's miserable for everyone, but you have to both watch them closely for signs of dehydration, and also do whatever it takes to keep them taking sips of fluid to hopefully prevent dehydration.
For colds and flu-like stuff, we basically never use fever reducers. Fever is your friend. I will medicate with something like tylenol for pain, but not for fever. Just throw the thermometor away. Fever from a pathogen won't go high enough for long enough to cause brain damage or anything like that. We take vitamin c, since it's probably useful in both treating and preventing invasive bacterial stuff. When we're cold from fever, we get in a hot bath (I personally suspect that the fever chills have a purpose) and the steam also helps you get rid of snot and keep airways clear.
My medicine cabinet doesn't hold much medicine. Whenever we get some OTC product, we get it on the spur of the moment and use it once (and usually, we never even end up using it), and the bulk of it expires before being used again. And I think a vast majority of the "natural" stuff is probably a scam.
Electrolytes, hot baths, and rest/sleep are my "method".
If a kid of mine had a serious or "threatening to become serious" bacterial infection, I'd have no problem doing antibiotics. We do go see the doc when the kids are sick with anything more than an obviously tiny cold, tho. And so far, the doc has just sent us home saying it looks like a virus, and instructing us to come back if it gets worse. And so far it's never gotten worse.
We're also fortunate to have, like, the coolest doc ever. And if you don't have a doc you really love, I think it's worth looking for one, even if it will take you a year or more to find him or her.
Our MD is a family doc, and we had to "shop around" to find the right doc for us, but it was SO worth it. So I think a good doc who you don't dread seeing should be be in your "medicine cabinet".
I'm not great with the forum talk yet 
. same for alcohol. It is something I would want to use for a deeper more serious/dirty wound. Not every scrape and minor cut.
