If it is continually bleeding, apply pressure with a clean white cloth while not doing anything that could give you an erection until it stops bleeding. When it has stopped bleeding, pour hydrogen peroxide over it slowly. This will sting, but it will sanitize it so that you do not get an erection. If this causes bleeding to occur again, apply pressure with a clean white cloth until it stops. Then apply triple antibiotic ointment cream by rubbing lightly over the wound.