boardsurfr said..
Check the baby section in your grocery store. Creme that heals baby butts also works great for blisters and cuts. In Germany, it would be Penaten Creme, but you'll probably find similar local brands. The only issue with that stuff is that bandaids don't stick well after you used it, so it's best to use it on the evenings or when on days you don't sail. Keeping water out when sailing is definitely a good idea.
Called Bepathen cream here in Australia.