bleeding of the penis

I've been experiencing pain at the very tip of my penis over the last day or two. It's a little red and there seems to be a small cut. The pain only comes when it rubs up against my boxers or only sometimes when I urinate. I put a bandaid over the tip so it would stop rubbing against my boxers. Hours later I took it off and there was tiny bit of blood. I can't tell if its from the slight redness on the outside of the penis of if its a problem within. Any suggestions as to what this is?

No clue, but I suggest to not wear those boxers anymore.
whity titys all the way, keeps everything nice and secure.
In all seriousness though, I would go a couple of days without irritating the penis, and if it doesnt get any better I would see a doctor.