Baseboard Molding Nail Hole Filling

Use putty.

I prefer the spackle stuff. Water based clean up and easier to sand I find.

I don't sand. Stiff damp sponge works great

This is what I use.
http://www.dap.com/dap-products-ph/fast-n-final-lightweight-spackling/
No sanding needed, drys super fast, does not flash or shrink.

Ayuh,... Plain ole painter's caulk, 'n a putty knife here,....

Wipe it with a rag, 'n paint it,....

All good solutions given so far. The weakness of most of these is that they shrink in the hole so 2 applications is necessary MOST of the time. Some of the putties you have to watch because they turn yellow because of the oil in the putty and when paint is applied, those oils wick their way to the surface.

Spackle is the easiest method. Just use a PLASTIC putty knife to force the spackle into the hole. Allow the first coat to dry and apply a second coat. When it's dry, use a sponge or rag or even some 220 sandpaper. Prime those spots and then apply your finish coats.

You'd be surprised that no one notices that kind of stuff when visiting. All good ideas, fill with spackle is easy, painters putty is best, caulk is easy also. Most will leave some kind of tiny "history" but again....next time your in a 5 star hotel, take a look at their floorboards !

Always somebody trying to cut corners..
Just use wood putty, I use Elmers...
Apply some to the hole..
Use a damp rag to smooth.
When dry paint...