I'm not sure if this is heretical but the best material for stopping the transmission of moisture is shellac. Shellac from the Lac bug. Better than varnish, oil, or even wax. If you build up enough layers of it, it can be rather water resistant without going cloudy.
Buy the dry flakes, super blonde is clearest, and dissolve in denatured alcohol. There is a lot of good info on Shellac on the web. It's all natural, non-toxic and awesome.