after reading a number of recipes, i came to the conclusion that most of them used some combination of beeswax and oils as the main ingredients. i had coconut oil and sweet almond oil (that i'd used as a face oil) already, and i'd wanted to buy some more beeswax for candles anyway.
here's my simple recipe to add to the giant pile already out there:
1 part beeswax
2 parts coconut oil
1 part sweet almond oil
melt beeswax over double broiler (i used an enamel bowl over a pot of boiling water). when beeswax is mostly melted, add coconut oil and stir together. remove from heat, add sweet almond oil and stir together. pour into small recycled container and let set.
my container (an empty candle tin i was given) can be used again and again. this balm has a light scent of honey and coconut and works a treat.