ORIGINAL: cpeisher
The other thing to consider using is a threaded insert, or more commonly called a T-nut for wood. Normally, you would tap these in, but if you drill the hole loose enough and put the t-nut in from the backside, with the flange on the backside, when you tighten the screw, it will pull the barbs into the wood and seat itself. They come in boxes of 100 for sizes down to 4-40 form mcmaster.com. Just search t-nuts or threaded inserts.
Also called a blind nut.