Here is a quick, “down and dirty” fix for stripped wood screw holes on your guitar and will also work on amplifier back panels. The common quick fix is to take a tooth pick and insert it into the hole making the hole diameter smaller. This will help the wood screw bite into the toothpick filled hole. The next step would be to add some wood glue to the toothpick. A less common quick fix is to insert some 0000 steel wool into the hole. This works very well and the wood screw bites into the steel wool expanding it out to the walls of the hole. It is a quick and easy fix for stripped out wood screws.