A liquid preservative composition comprises (a) an alkanol fatty monoester and (b) an aqueous isothiazolinone solution, an alkanol-substituted aromatic compound, or a combination thereof and is free from formaldehyde, formaldehyde-releasing compounds, and paraben compounds. Preferred compositions comprise glyceryl caprylate, together with either phenethyl alcohol or an aqueous 2-methyl-4-isothiazolin-3-one solution.