What term describes the rubber-lipped seals that prevent water leakage around a shaft?

The term that best describes the rubber-lipped seals designed to prevent water leakage around a shaft is "shaft seals." These are specifically engineered to fit around shafts and effectively block the passage of water or other fluids, ensuring that they do not leak out of the housing where the shaft rotates.

Shaft seals are vital in applications where maintaining fluid integrity is crucial, such as in machinery and automotive applications, providing not only sealing but also protecting the bearings and internal mechanisms from contamination and wear. This is distinct from rubber gaskets, which are flat seals typically used between two surfaces to prevent leakage, or O-rings, which are circular cross-section seals often used in static or dynamic applications. Bearing liners, on the other hand, are used in the context of bearings to provide a supportive surface for rotating components but do not specifically address sealing around shafts.