Common wood finishes include wax, shellac, drying oils (such as linseed oil or tung oil), lacquer, varnish, or paint. Other finishes called "oil finish" or "Danish oil" are actually thin varnishes with a relatively large amount of oil and solvent. Water-based finishes can cause what is called "raising the grain" where surface fuzz emerges and requires sanding down.
Oils provide a traditional finish for both interior and exterior wood. The hard drying oil forms a protective barrier to protect the wood, while nourishing the wood preventing it from drying out. Danish Oil is a blend of natural oils and resins that penetrate the wood to provide a tough, durable, waterproof finish that has a satin/low sheen finish.
Waxes provide a traditional way of colouring and protecting wood. They have a natural appearance while nourishing and enriching the wood that come in both clear and coloured waxes. Can be used for a soft sheen finished or buffed to a deep shine
Contains pure natural shellac that gives a traditional high gloss finish with a depth of colour. French polish can be more forgiving than other finishes in the sense that unlike lacquers, it can be efficiently repaired.
Theres is a very helpful table on wiki comparing many different types of finishes under: