I'm in the process of renovating my second cabinet with water damage, both MDF based, which hates water. I am continuing to try various things, but the first thing I have found is that there is no substitute to striping the cabinet down to the individual wooden panels before attemping the repairs, and then rebuilding the cabinet again when the damage is repaired. Sounds brutal, but the results are worth it. Trying to fix this type of problem with the cabinet in one piece compromises the standard of the result, in my experience (limited, I know).
I am then getting good success by painting watered down PVA glue (about 50%/50%) liberally onto the damages edges (it really gets sucked into the damaged areas easily) then immediately clamping the hell out of this damaged edge from both sides using two straight edges and a number of G-clamps. See the attached picture. I covered the wooden straight edges with aluminium foil, this stops them bonding to the damaged panel edges and causing more damage by having to force them apart!
Removing the clamps after 24hrs leaves a solid edge which can be sanded and worked with easily.
Works for me . . .