From the symptoms it looks like infected hair follicle or a sebaceous cyst. A sebaceous cyst is a closed sac occurring just under the skin which contains a "pasty" or "cheesy" looking substance called keratin. Blocked sebaceous glands, swollen hair follicles and excessive testosterone production will cause such cysts.
Apply warm compresses and topical antibiotics like Mupirocin. Generally no treatment is required but they become painful then it means they are infected, Then surgical excision by traditional wide excision, minimal excision, and punch biopsy excision may be required.
It is very difficult to precisely confirm a diagnosis without examination and investigations and the answer is based on the medical information provided. For exact diagnosis, you are requested to consult your doctor. I sincerely hope that helps. Take care and please do keep me posted on how you are doing.
I have a similar cyst at the base of my penis. I am confused to which type of doctor I would need to talk to. This is also very embarrassing.