Protect the areas around the cabinets with a plastic tarp. While wearing rubber gloves, apply an even coat of the paint stripper to the wood. Slide a paint scrapper along the wood, peeling off the old paint in long strips. Dip the steel wool in the paint stripper and rub on any remaining paint.
Sand the cabinets with fine-grit sandpaper, which removes any excess paint and creates a smooth cabinet surface. Wipe off any sawdust with an old rag. Clean the cabinets with a cleaner specially designed with wood cleaner and let dry overnight.
Repair chips and other damaged areas with wood putty. Tear off a small piece of the wood putty and push it into the damaged spot. After the putty dries, sand with more sandpaper, making the repaired wood sit flush with the rest of the cabinet.
Dip a paintbrush into the wood stain and apply a thin coat to the cabinet, following the natural wood grain. Rub an old rag over the wood, which pulls off any stain pooling on the wood. Work your way around the cabinet, slowly applying stain and removing the excess.
Apply a thin layer of clear sealant to the cabinets. Once dry, rub fine-grit sandpaper over the wood, sanding down the sealant. Apply a second coat of sealant to the cabinets. Rockler Woodworking and Hardware recommends using multiple coats of sealant and sanding between each layer.