I can confirm, that the following method to fix a stripped screw hole, in wood, has worked for me.
You will need wood / carpenters glue, round tooth picks, a hammer, and scissors / cutting tool.
- Thinly coat a toothpick in wood glue and put it into the hole and give it a tap or two with the hammer to snug it in.
- Cut the overhanging toothpick so that it is relatively flush with the wall / surface the hole is in.
- Wipe any excess glue that has seeped outside of the hole.
- Repeat until you cannot possibly embed any more toothpicks or partial toothpicks into the hole.
- Give the final mass of toothpicks a couple of taps with the hammer, to flush it with the surface the hole is in.
- Wait 24 hours for the glue to set up and dry.
- You are now free to re-screw.
One of the videos I watched, demonstrating this method: