Epoxy resin is what I use. Cracks, by nature, do decrease wood strength integrity. That said, some woods can have many cracks and still suffice as walking sticks and canes.
Example is a cane I have been fiddling with for a year or so. Maple, found in a lumber site pushed into the dirt. It had already cracked severly. I stress tested it on my 245 frame, tried to bend it over my knee, smacked it across a couple of oaks. Verticle strength is superb and would crack a skull or femur just fine without breaking.
The guy I am planning on giving it to is much smaller than my demur size

and he doesn't really need to use it, but I will alert him to the possibilities of future deterioration (although I doubt it will).