Don't try it yourself. It's not a wart. A dermatologist has an electric cauterizing tool. It will take three seconds and sting just a bit. That should do it. If it's something else, the doc could identify it.
I know what it is I clearly remember causing it with that electric razor..
Do yourself a favor, please go to the doctor and make sure of what you have and the correct way to take care of it.
It doesnt periodically produce the blister its always there unless i pinch the skin causing the blister to dry up and come off. it will then just come back after some time if I do that. I have thought about cauterizing it actually would something like a wart removal kit do the job? I don't feel like having a doctor do this if I can take care of it my self..
This happens a lot to carpenters who use their penis as a hammer. Seriously, it would be odd for an old injury to periodically produce a blood blister. Are you sure that you are not re-injuring yourself? If it is, indeed, a recurring blister from an old injury, you'd need to go to a dermatologist and get the spot cauterized. That will keep it from recurring.