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From 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]