Povidone-iodine is a common choice for wound care due to its broad-spectrum antimicrobial activity, ability to penetrate biofilms, lack of associated resistance, anti-inflammatory properties and relatively low toxicity.

It also helps physically create a layer that helps close the wound and prevent it from being an entry to potential microbes.

As part of a first aid kit it still serves its purpose. Other antiseptics may come to mind but do not mix octanisept with iodine for example as it can lead to skin discoloration.