This maybe eczema.The term eczema is broadly applied to a range of persistent skin conditions. These include dryness and recurring skin rashes which are characterized by one or more of these symptoms: redness, skin edema (swelling), itching and dryness, crusting, flaking, blistering, cracking, oozing, or bleeding.
Dyshidrosis is a less common eczema which only occurs on palms, soles, and sides of fingers and toes. Tiny opaque bumps called vesicles, thickening, and cracks are accompanied by itching which gets worse at night. A common type of hand eczema, it worsens in warm weather.
For mild-moderate eczema a weak steroid may be used (e.g. hydrocortisone or desonide), applied to the affected areas.
It could also be a fungal infection in which case you may have to apply OTC anti-fungal ointments.If neither helps in causing a resolution then please do visit a doctor and get him attended to.