flush draws

What is the best way to play out the scenario where an opponent has a possible flush draw on the flop when you are holding 2 pair or better but not a higher flush draw? Is it best not to put too much value into it until after the turn? What if you're the one with the best flush draw with nothing else to beat you but your opponent bets hard to put you all in ?
I know there is lot's to consider before making a decision but I would like some input on this.
This is one example. neither had a flush draw but it could've been there and it could've taken them both out.

Sick hand, i tried to put myself in position of all 3 players, from every position those were tough moves, it took lot of guts for steinberg to call, and also for phill's 3 bet. Okelola also flopped top pair, raise from him is also ok, good thing that he saw that top pair is sometimes not enough (which i need to learn ) but the muck seems logical because phill raised before the flop and on the flop so he might put him on ak or something and decide to muck... what i would do is just call the raise if i were phill...

Sometimes you just cant see that you are facing hands like that and gotta pay price, you flop a 2 pairs someone flop a set, you gotta think that you're good, and of course battle of sets/pairs vs flush/straight draws... that's the beauty of poker and ugliness of being defeated and busted...

You should always provide the best combination of your opponent.
Even if you have a pair of aces on the board with a potential flush or straight draw try to play a check-Cola. If your opponent has a strong hand did catch it or show its view of the high rate at which you can easily reset or cheap enough to allow you to get to the showdown, and maybe somehow amplify the turn and river. Put pressure on their opponents and put on a dangerous flop is almost useless, because with a strong hand you will still be made ​​the call, and in the long run you will lose much more than you can win in a similar situation.