Brief Answer:
Most likely yeast balanitis

Detailed Answer:
Hello,

The most common cause of swelling of the foreskin (which leads to cracking as you've noted) is a yeast/fungal infection. If this is the case, it won't respond to antibacterial medication because it isn't predominantly bacteria but yeast that are causing the problem. So you need an anti fungal/antiyeast cream. The anti itch cream usually has a low dose steroid in it which won't help the infection even if it takes away some of the itching and swelling.

You can try an over the counter antiyeast/antifungal cream such as one's containing clotrimazole. However, you made need to see your doctor and get a prescription anti fungal/antiyeast such as ketoconazole if that doesn't work well enough or if it is getting worse.

When there is cracking, there is some risk of secondary bacterial infection on top of the yeast infection, so watch for any development of pus, or increasing redness at the site of cracking.

If this problem becomes severe, or if it becomes recurrent, definitive treatment is circumcision (under anesthesia).

So:
If the cracking isn't severe and you can still retract enough to urinate and the skin isn't then getting "stuck", you can try an over the counter such as clotrimazole.

If there is any worsening, then do go in to be seen.

I hope this information helps. Please let me know if I can provide further information or clarification.

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