I masturbated using soap, and my penis is dry everywhere. my balls and tip. i also have multiple cracks on the tip and i am worried. (i am circumcised) any advice?

You likely irritated the skin significantly from the product and rubbing it. The best thing you can do is apply petroleum jelly or aquafor-like product 2 times a day and let the skin heal. If it worsens or becomes more red, have it evaluated in person.

Yes. Do not use that soap again and use a moisturizing cream to the penis till the skin gets normal. Pl use a neutral lubricant like KY jelly or baby oil if you need to.. Wish you well