Aqueous compositions comprising at least one hydrotrope and at least one active compound. The at least one hydrotrope is present in an amount: (a) effective to solubilize said at least one active compound in water; and/or (b) effective to increase transdermal penetration of said at least one active compound; and/or (c) effective to increase the bioavailability of said at least one active compound. The aqueous compositions are provided for cosmetic and other uses. Also provided are methods for preparing and using said compositions.