Water #(H_2O)# is considered to be the universal solvent for its unique ability to dissolve a lot of solutes. It is a highly polar compound, and so will easily dissolve other polar molecules. The things water cannot dissolve are usually non-polar, with the most famous molecules such as some lipids (fats), which have more non-polar carbon chains than polar carbon chains.
Source:
https://water.usgs.gov/edu/solvent.html