I have had problems with tendonitis in wrists, ankles and bicepts in the past. Usually you notice a 'crunchy' feeling if you squeeze the joint and move it around - not nice!!
I was told that rubbing over the tendon with your finger in one direction would help to straighten the fibres of the tendon out again and help it to move smoothly again and for lubrication to return.
So in your wrists for example find the tendon that is causing the problem (usually you will find it slightly enlarged and grissly to touch) and then using the thunb of your opposite hand rub along the length of it in one direction only using a fair ammount of pressure. Repeat frequently. I found that this worked pretty well to aid the recovery time.
The main factor unfortunately (as you have been told) is rest. I was told 6 weeks, but found that 2-3 usually did the trick.
You can keep sailing using anti-inflamatories and pain killers, but rest is the only way to cure it!
The other interesting thing that I was told was that it is usually provoked by a strain rather than movement. eg in bicepts for example, doing bicept curls should be Ok, where as trying to hold/pull a weight with your arm extended (eg windsurfing!) for a period of time is not. So don't carry heavy bags, ie' shopping bags whilst you're trying to recover.
So my advice; keep rubbing them and rest (and if its a really classic day, swallow some pain killers and go sailing!!)
Good luck!