Wood desk left outside, legs were water soaked several times, now the legs are showing damage, soft and stained. Is there anything that can fix this? I remember "back in the day" they would soak the sh#t out of the wood with some sort of sealer or epoxy? Am I wrong? Any help appreciated.

Are we talking about wood that has been lightened (in color) because of water damage or completely saturated and showing signs of splintering when drying?

A lot depends on what species the wood is. If the legs turned black, chances are it is oak. If a lighter color, could be anything.
Nothing will 'fix' it per se, but yes, you can epoxy it to basically fill in all the separated fibers. Epoxies are always two parts that have to be mixed.
It would be easier to sand, stain, and polyurethane.

Thanks for the reply, the wood is splintery when dry and I remember the wood stuff in boat stores. Thanks