I agree and have been taught that teflon tape is a no-no.
I buy a goey paste at the local hardware store that is applied with a brush from a little 4oz (thereabouts) plastic bottle. It's a yellow green in color, has been made for many, many years, don't remember the name but surely there are others similar.
On the rear it gives the details as to what it is intended to seal, materials it is resistant to, pressure it withstands and all, also the fact that it never sets up hard.
And yes it is made for NPT fittings (tapered National Pipe Threads) that are used on most of my connector to hose connections. You purchase the hyd hose with male tapered NPThreads and pick and choose your connector accordingly. Most of the ones that I have seen have the inside machined for metal to metal flange lip in addition to the external threads. As Soundguy said, if you are using it for the latter, no sealant is desired nor required.
HTH,
Mark