No you do not have genital warts. You might be having a reaction to the cream or lotion that you are using.

This is what my son has. His are at the tip of his penis only, this is just a suggestion dont know for sure. If it is penile papules, it is common and normal for you. They will not go away they are forever. Boys get them when puberty hits. They are just a normal thing. Do not pick at them!!!

It could also be a reaction like other writer says.

Michael I think youre describing what every single male on the face of the earth has all over his scrotum and base of his shaft. Some can't see them but others can. I sure as hell can and it scared the crap out of me the first time I noticed them. If you are describing white, small, pimple looking things that dont ever go away, you are describing what i'm talking about and they are normal, 100% healthy and normal. If they look like cauliflour and have texture to them they are probably warts.

No you can't get warts from masterbation.