Aww, our princess is quite knowledgeable in first aid.
I was told the same thing growing up, but after joining the Nigerian Red Cross, I saw that most of the things we do when we have a wound could endanger our lives, like putting things we are not sure of on the wound. It can lead to infection, which is why, as a first aider, if someone is injured, don't add anything like sand to stop the bleeding; it might infect the wound.

Also, mentholated spirit is no longer used, and it has been written out not to be in the first Aid box again, because the aim of a first aider is to reduce pain, and that causes pain; there is a new one that has been introduced. I think hydrogen peroxide. It disinfects wounds without causing pain. Then they can use a gauze bandage to stop the bleeding. It is said that the mentholated spirit can cause other damage because of the pain, if there is no hydrogen peroxide, its better to use clean water to wash the wound off.

Also, a first aider should not give drugs to anyone, but if its for personal use, that's fine. Having first aid box at home is very good and every parents should have the knowledge on how to administer it.