Phenol is one of the nastiest things you can find in the lab. Small amounts can KILL. It causes burns, is absorbed through the skin, and takes out your kidneys. A guy I know had a lucky escape after spilling ~500 ml phenol down his legs. Despite immediately standing in the sink with lots of running water he spent 3 months in Stoke Mandeville having skin grafts and dialysis.
When working with more than say 10 ml phenol, always ensure there is a bottle of glycerol or PEG300 close by. If you are silly enough to spill some on you, absorb it with the glycerol or PEG before washing with lots and lots of water. Water alone just spreads the stuff around. Always wear gloves, always wear glasses or work behind a screen.
In other words, be extremely cautious when making up these stocks. Better yet, get someone who knows what they're doing to do it.
Buy phenol cast in the bottle, 100g maximum, Sigma catalogue #P1037. Once saturated, store under Tris at -20°C.
It is possible to buy phenol with added stabilizer. This sounds like a good idea until you realize that the stabilizer is yellow. Pure phenol is colourless and only turns yellow (and then red) when oxidized. Therefore if you buy it with the yellow stabilizer added you won't be able to tell when it's gone off. Storing phenol in small aliquots under Tris at -20°C minimizes the risk of oxidation, so it shouldn't be a problem if you follow these instructions.