Is there any way to minimize arthritic knobs?

Usually not. Osteoarthritis is the common cause of knobby knuckles. Anti-inflammatory medications help relieve pain and stiffness, but do not prevent or reverse the development of bony swelling of the knuckles. For less common types of inflammatory arthritis such as rheumatoid arthritis, there are medications that can help to prevent arthritis from worsening and causing deformities.