Dip a cotton ball in mayonnaise and apply a thin coat over the water stain. Let the mayonnaise remain on the water stain for 45 to 60 minutes. Wipe the mayonnaise off the water stain with a soft rag.
Pour baking soda into a small bowl. Add water and stir until you form a watery paste. Dip a damp rag into the watery baking soda paste and gently rub it into the water stain on the knotty wood surface, making small circles. Continue to rub the water stain until the water stain clears. Wipe the area with a damp sponge and buff it dry with a soft cloth. Apply a light coat of furniture wax to restore the finish.
Add table salt and water to a small bowl to form a runny paste. Dip a damp sponge into the mixture and gently rub the water stain until the stain is no longer visible. Wipe the area with a damp sponge. Dry the knotty wood surface immediately with a soft cloth. Apply a paste furniture wax to the area to protect the wood.
Dip a clean rag into petroleum jelly and apply a thin coat to the water stain. Let the petroleum jelly remain on the water stain overnight. Wipe off the petroleum jelly with a soft rag.
Blend equal amounts of white vinegar and olive oil in a small bowl. Wet the corner of a rag with the mixture. Rub the water stain while following the knotty wood grain until you no longer see the water stain. Buff the surface with a well-worn rag.
Pick up a small amount of car wax on a rag. Apply the car wax to the water stain in one motion without rubbing it into the knotty wood's surface. Leave the car wax on the wood until it turns white. Rub the car wax off the wood surface with a soft rag.
Dampen a clean rag with denatured alcohol and rub the water stain while following the knotty wood grain. Continue to rub the denatured alcohol into the stain until the stain disappears. Wipe the area with a damp sponge and dry immediately with a soft rag.
Add 3 to 4 drops of nonsudsing household ammonia to 1 tablespoon of hot water. Rub the mixture into the water stain with a clean rag until the water stain clears from the knotty wood.
Scoop up paste furniture wax with #0000 steel wool. Rub the paste wax and steel wool over the water stain while following the knotty wood's grain. Continue to rub the knotty wood until you no longer see the water stain. Buff the area with a soft rag.
Pour 1 tablespoon of crushed rottenstone into a small bowl and add mineral oil while stirring to form a paste. Pick up the paste with a rag and rub it into the water stain while following the knotty wood grain. Continue to rub until the water stain disappears. Apply a coat of paste furniture wax to the area to protect the wood.