Depends on what you mean. You might caulk trim gaps, but NEVER use
caulk where you should use glazing compound- for the retainer/seal
around the outside of the glass panes. It can be an absolute bear to
remove if you have to replace a pane.
Previous owner of my house did just that on some windows. Made it a
real time-waster to properly repair glazing. Their caulk only partially
"stuck" to the wood, but way too well to the glass.
For re-glazing: carefully remove all the old brittle, loose stuff. Down
to the wood, I'm assuming. Then apply new. This is a bit of an
art-form. Does require temps high enough for the compound to be worked.
(You must be somewhere in the Sunny South.)