Protection. Moisturizer can prevent from over-dryness of skin, protect skin from injury like scratch, tearing or bruises. It may stop itching particularly in "matured" skin by controlling the dryness which is the main cause of itching in elderly and during winter season.
Skin Moisturizer. Moisturizers prevent and treat dry skin, but that's not all they do. Moisturizers can protect sensitive skin, improve skin tone and texture, and mask imperfections. There are plenty of different moisturizers available. Cerave which is otc is a very good moisturizer.