Sand the baseboard's surface, over the dings, to remove as much of the paint or stain as possible. If you plan to paint or stain the baseboard a new color, sand the entire baseboard. If you want to patch the dings, use a medium-grain sandpaper. If you want to redo the baseboard's paint or stain, use a rough-grain sandpaper first, then go over the entire baseboard with a fine-grain sandpaper. Consider using a wood stripper as well to assist in the removal process.
Wipe the baseboard down with a tack cloth to remove the dust that sanding created. Place a plywood board on a flat surface. Open the two containers of wood putty. Each container contains slightly different ingredients, so when mixed together, they form a powerful bonding agent.
Scoop equal parts of putty from the two containers and place them on the plywood. Use a stiff 1 1/2-inch putty knife to mix the two parts together for about three minutes.
Pick up a small amount of the mixture with the 1 1/2-inch putty knife. Spread the mixture over a ding on the baseboard. Apply heavy pressure to ensure that the mixture reaches the ding's bottom. Repeat this step for the remaining dings, dents and cracks.
Wait at least four hours for the wood epoxy to harden. Sand the wood epoxy with a rough-grain sandpaper. Wipe the area with a tack cloth and sand the area again, this time with a medium-grain sandpaper.
Paint or stain the repaired area to blend it into the rest of the baseboard. Or paint or stain the entire baseboard a new color.