Whats wrong with my penis?

Okay so about 3-4 weeks ago i started to masturbate with my boxers still on. (just stroke) and later on i started to have a burn feeling, might be from the boxers and there being no lube of any kind. I started to have pinkish dry/raw ( sometimes itchy) skin and it was flaky. I peeled the dry skin off and ever since it has felt raw and pink. There is one certain spot that is dry and cracked and every time i apply lotion to help with the skin, it always burns. I cannot masturbate or have sex because it starts to burn. It has been going on for about 2-3 weeks now maybe more and although it looks like it has gotten better it still pinkish and feels a little raw, i have tried to mastrubte but it still burns when i apply the lotion. Has anybody had this problem before and know how i can get it back to normal? i have only had blow jobs given to me but that was about 2-3 months before this happened. Is there anything i can apply to skin that can help it bring it back to normal?