Found bump/sore on penis when using my hand?

See Your Doctor. Get it evaluated. If the bump is tender, sooner than later. Bumps/sores on the penis could be anything from a sebaceous gland, ingrown hair, infected gland or hair follicle, std, genital wart, herpes, etc. If it is inside the penis (not on the surface or visible), it could be scarring, a clot, a growth inside the urethra, etc.