What is the best lip balm?

Could you elaborate on what factors one should consider when determining the "best" lip balm? Is it the moisturizing properties, the flavor, or perhaps the ingredients? How do different formulations, like those containing beeswax, shea butter, or petroleum jelly, affect the efficacy of a lip balm? Are there certain brands or types that are better suited for specific conditions, such as dry, chapped lips or sensitive skin? Lastly, are there any lip balms that are free of parabens, sulfates, or other potentially harmful chemicals, which might be a priority for those concerned about their skin health? Thank you for your insights on this topic.