I use it and was told it was good (in moderation). Just enough to clean the wound. As long as you don't use it more than once a day (maybe twice depends on the wound) it shouldn't dry out the wound. Just make sure the injury heels from the inside out, even if that means you have to kinda open it so all the puss and bad stuff doesn't stay inside after the skin starts to close up.
A friend of mine used it on a bad cut on a horses neck and it did the job great, cleaned it and it healed without a scar so in that particular case it worked ,made the horse jump about very lively though
While there are uses for hydrogen peroxide, in general it is not something you want to apply to wounds. The body produces a sufficient amount at the wound site to provide the positive benefit that hydrogen peroxide has on wound healing, but excess hydrogen peroxide is damaging.
ACVS - General Wound Management
"Hydrogen peroxide is not recommended for cleaning wounds. For some reason, probably its foaming action, hydrogen peroxide has an undeserved reputation as being a good agent for cleaning wounds. Hydrogen peroxide damages tissues and is not very effective against most bacteria."
My horse had some cuts on his legs and I used hydrogen Peroxide but no higher then 3% then I'd wait 5 minutes and put water on it so it didn't dry up. His legs are all healed and no scarring, which should have had .
I don't use peroxide on wounds only because I've "always heard" that it damages the NEW tissue as well as killing bad bacteria. For wounds, if the vet it not needed (which is a rarity when the word "wound" is used) I simply wash the area out with warm (like warm to the touch, not hot) water and a betadine surgical wash. Rinse well and keep clean.
I will use peroxide on small "boo boos" like a scrape or a small bite. A quick sqirt and then spray the topical purple antibiotic spray.
I use peroxide on my 'wounds' haha me and my cousins used it when he refused to tell ur parents that he fell off the quad and hit a log, haha worked great. I've never tryed it on horses, but you can buy a lot of wound cleaning things for them at hrose stores, so I don't think I would use it.
I used to use it often, then started hearing the "not good" reports.. I will say I have had more than one booboo on my hands that continued to be problems that would not heal. I would put triple antibiotic on them and kept them as clean as possible considering I am out with horses a lot. I dribbled HP on them for a few days and BAM, all better.. So, I will use it.. I believe in it. I wouldn't soak in it, but I will use it whenever I feel that it is applicable.