<font color='#8D38C9'>Naw, alcohol is fine. As long as you use the clear stuff, not the green kinds.
There are some contact cleaners that work well, especially if you have corrosion. Flitz is really good. Alcohol won't do a lot on corrosion, but then hopefully that won't be a prob with gear in most parts of the world.
With alcohol, or any other liquid, just be careful to keep the bottle away from your gear! Use a little on a Q-tip.
Dunno what it's effects may be over the long term on the jackets of cables. Probably no effect, but it's hard to say.</font>