Source : Webster's Revised Unabridged Dictionary (1913)

Salve \Salve\, v. t. [imp. & p. p. {Salved}; p. pr. & vb. n.
   {Salving}.] [AS. sealfian to anoint. See {Salve}, n.]
   1. To heal by applications or medicaments; to cure by
      remedial treatment; to apply salve to; as, to salve a
      wound. --Shak.

   2. To heal; to remedy; to cure; to make good; to soothe, as
      with an ointment, especially by some device, trick, or
      quibble; to gloss over.

            But Ebranck salved both their infamies With noble
            deeds.                                --Spenser.

            What may we do, then, to salve this seeming
            inconsistence?                        --Milton.

Salve \Sal"ve\, interj. [L., hail, God save you, imperat. of
   salvere to be well. Cf. {Salvo} a volley.]
   Hail!

Salve \Salve\, v. t. & i. [See {Salvage}]
   To save, as a ship or goods, from the perils of the sea.
   [Recent]

Salve \Sal"ve\ (? or ?), v. t.
   To say ``Salve'' to; to greet; to salute. [Obs.]

         By this that stranger knight in presence came, And
         goodly salved them.                      --Spenser.

Salve \Salve\ (?; 277), n. [AS. sealf ointment; akin to LG.
   salwe, D. zalve, zalf, OHG. salba, Dan. salve, Sw. salfva,
   Goth. salb[=o]n to anoint, and probably to Gr. (Hesychius) ?
   oil, ? butter, Skr. sarpis clarified butter. [root]155, 291.]
   1. An adhesive composition or substance to be applied to
      wounds or sores; a healing ointment. --Chaucer.

   2. A soothing remedy or antidote.

            Counsel or consolation we may bring. Salve to thy
            sores.                                --Milton.

   {Salve bug} (Zo["o]l.), a large, stout isopod crustacean
      ({[AE]ga psora}), parasitic on the halibut and codfish, --
      used by fishermen in the preparation of a salve. It
      becomes about two inches in length.

Source : WordNet®

salve
     n 1: semisolid preparation (usually containing a medicine)
          applied externally as a remedy or for soothing an
          irritation [syn: {ointment}, {unction}, {unguent}, {balm}]
     2: anything that remedies or heals or soothes; "he needed a
        salve for his conscience"

salve
     v 1: save from ruin, destruction, or harm [syn: {salvage}, {relieve},
           {save}]
     2: apply a salve to, usually for the purpose of healing