Historically, yarrow was believed to soothe wounds, make dairy cows give thicker milk, and even cure the plague. Of these powers there is no certainty - however, you can definitely try it a great many ways.
Dried and powdered yarrow can be placed on smaller bruises, as it is said to have a blood-coagulating effect.
Yarrow tea is a little bitter but extremely valuable. It helps against stomach troubles and cough, and can also be consumed for its blood-coagulation effect.
Yarrow can be collected around Midsummer and used all winter long, as it works wonders and looks pretty when dried.
Disclaimer: Only use plants you are sure of. Do not consume plants you don't recognize or plants that have grown in dubious locations.