For those that don't want to invest in a "kit", I might recommend a bottle of ReelX lubricant, a round tub of Cal's Reel Grease, and a box of Q-tips.

Lastly, if you're going to go to the effort of taking your reels apart to clean and re-lube/grease them, invest in some carbon fiber drag washers if you're reel didn't come with them.

You can get all of this stuff at smoothdrag.com I've recommended this site before and will again. One of the good guys out there.

All of my reels have carbontex drag washers, Cal's grease and are hit with ReelX annually. They run smooth like butter year in and year out....until a part breaks and completely destroys the reel.