Myrrh Essential Oil was used by the Egyptians as part of their embalming process, this is because it is an excellent oil for the skin, particularly mature skin and I have seen wonders with it used for skin ulcers. It may be useful if you're suffering from a cough or cold.
It's commonly used in incense and perfume due to its woody, earthy aroma. Myrrh is a grounding oil which can help to mellow the emotions; its often used during spiritual practices and meditation. In my opinion it needs to be a low dilution mixed with other oils as it has a very strong, distinct aroma!