Now it's too late. Our Wolfhound has had a problem with the tip of her tail getting thrashed about and causing it to bleed. It seems to just get healed and it happens again. We have tried various methods to protect it, everything from socks, bandages, etc. We even tried condoms once at the kennel we left her at over on weekend.
Nothing seems to work.
Ointments or creams would be preferable. Tail wounds are hard to deal with, as you have experienced. The area where the skin is broken has to be protected until it heals then again until hair grows in again. This takes several weeks. Go to your vet and get some Furacin dressing ointment, Vetwrap and sterile gauze pads.