I've got a ton of teak on my Cabo Rico
and I'll second the use of a heat gun. The best scrapers I've found are by ProPrep, link below. As to the depressed areas, are you talking small dents such as where something banged into the teak or outright gouges? For a small dent, after the wood has been stripped, you might try placing a wet washcloth over the dent and apply high heat with a clothes iron. The idea is to get some steam expansion within the grain. I used to use it on rifle stocks. For deeper, more severe damage, you can save the saw dust from your copious sanding and mix with epoxy
to make a putty or you scarf in a new piece of teak. Be careful to get a matching hue of teak. I'll be doing this on my bow sprit which received a pretty big gouge. The final solution, and most common, is leave it alone. With a nice shiny coat of varnish only you will probably notice the minor blemishes.
ProPrep Molding - Detail Kit