Food grade lubricant comes in two types, generally: Tube, squeezes out like gooey toothpaste, and spray. (Look for the NSF logo, if you can. http://www.nsf.org/)
The spray is "easier" to use, but I like the hands on cleaning I get by using my nylon bristle brush and making sure I get into every nook and cranny.
Here are some hard-n-fast rules:
DO NOT use Vaseline or any other petroleum based lubricant, especially in and around rubber gaskets (the press of a sausage stuffer, forex)
DO NOT use anything like vegetable oil or olive oil. It can and will go rancid, hold bacteria and add a serious off flavor to your food.
ALWAYS consult your manufacturers guidelines FIRST.
I personally prefer to do things just about EXACTLY what Pops said above. Hot water, as hot as you can stand, bleach for sanitization. Use your eyes and get it ALL clean. I also have used my dishwasher, as it can go hotter than what my poor hands can stand. BUT I have also oxidized metal and caused several things to look "funny" from what I do.