Peroxide is irritating and can impede healing. Saline solution is better (google for the amount of salt to add). You can use antibiotic cream if it's somewhere the cat can't lick.
I asked the same question myself to a friend of mine who fosters cats and has had to clean and wrap many wounds, abscessed tumors, etc. Her opinion was "Absolutely not." Her thought is that the bubbles ng sensation does not feel good but rather it makes them and ant to itch. CNN has a pistol on their site about this specific question. As far as the ointment goes, I don't think there's a problem with that. I told the vet I was using it and h didn't object. The thing that the thing that surprised me is it a niche Lee thought it was best to not keep the wound bandaged up so it could air out but actually the opposite is better. The one should be covered and wrapped to prevent infection but changed at least two or three times a day. I am just repeating what my vet said. I am not a veterinarian and can't really give advice on this so I'm passing along advice that was given to me. Everything I've read on the web (some of it on PetMD) seems to support that. Anyway, I hope this helps. Medical myths don't die easily
My friend uses something called Vetericyn Plus Hydro Gel. On the bottle it says "Non-irritating and non-sensitizing; Safe if licked or ingested; Works on all animal skin types." I believe you can get this at Petsmart. It's a little pricey, though. I also dab a little iodine on the wound before putting on a bandage (lightly, not tightly)
Iodine should NEVER be used iodine on any open/broken skin - it will do damage to the skin cells, retarding healing and causing further damage (in humans and animals) - you'll easily find this with Google.
Triple antibiotic ointment is fine as long as it does not contain pain medicine. Neosporin Original is one you can use. I use a store generic brand. Use a tiny amount on the wound. If possible, cover the wound loosely with a gauze bandage to keep your cat from bothering the wound.