Hello and Welcome to ‘Ask A Doctor’ service. I have reviewed your query and here is my advice. Indentation may be due to urethral ridge or it may it may be however glass penis an congenital deformity . The raised red bump may be a boil or acne or allergic reaction or fungal infection etc. Until examination is done it is difficult to say what it is. Don t pressure the bump, use anti histamine and moisturizer cream. avoid sops and deodorant application . if symptoms not improved please consult your doctor he will examine and treat you accordingly. Hope I have answered your query. Let me know if I can assist you further.