There's a lot of favorites mentioned above, and most recently my favorite has been a very thin coat of modern light grease, the Moly disc brake wheel bearing grease, with a drop point of about 375F, just rubbed on with any excess squeezed out around the brake shoes rubbed off. My longtime favorite before that was good old fashioned extra thick (non-disc brake) wheel bearing grease, about the same drop point but much thicker in consistency at room temp, and applied the same way--thin coat, with excess rubbed off. I never used Bel-Ray waterproof grease (like boat trailer wheel bearing grease) on road bikes, but I used it exclusively for my dirt bikes and their exposed suspension linkages and so forth that get blasted with water and mud because it resists washing off, but my uninformed impression is that stuff is not as good a lube, and it seems not to "flow" well--its kind of gummy or something like that. I would not use white grease at all, neither heavy duty nor heat resistant enough, nor likely to last very long. I think the main thing is, any high quality, name brand, reasonably high temp grease will work satisfactorily when it is applied sparingly with all excess removed, and then renewed reasonably often, according to use.
My Triumph road racer originally had a 60's Triumph black steel spool hub and iron brake/sprocket on it, lubricated this way, and I used it pretty hard and it got HOT, and it always worked well this way with no pollution of the brake lining by grease--but like most race bikes, it was apart and thus serviced fairly often.