What kind of sword is it and what kind of steel is the blade?
Whatever it is, though, don't use alcohol - it's an ionic compound like water, but far, far more reactive. Any reaction that takes place in water takes place in alcohol also, but at a much faster rate, which means that it could oxidise your blade something awful if you apply it on random basis. Funny thing is, the samurai used sake to sterilise their swords ritually, but that's a different story.
Oil is the best substance for blade cleaning. Sword enthusiasts generally use mineral oils and special powder grits, although plant oils work also. If it's a good quality blade, you should invest in at least a basic sword-cleaning kit with instructions on how to use it - it will make sure your blade stays in good working condition for a long time to come.
Hope this helps as a primer. You can always approach our resident sword enthusiasts (Setsu, Bamboo and Arjun) for more indepth information.
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