We need your input. The active ingredients in plants are organic compounds. Most of these compounds dissolve in alcohol, and some dissolve in water or glycerine. Most plants do not yield a high amount of essential oil, but what does result from the distilling process is potent. Floral waters are a side-product of the distilling process.
Waters are a very dilute mixture of essential oil in water.
An example is rose bath water. An example is arnica liniment applied on the skin to heal strained muscles. In comm on use, an extract or flavoring is an edible tincture. Most extracts are in an alcohol base. Generally alcohol-based tinctures hold their properties longer.