It may very well be nothing but sebaceous glands (hair
follicles, basically) and nothing to worry about. Genital warts are a
possibility, but if they're tiny little bumps, sometimes whitish, hair
follicles is likely. Could also be a rash.
A doctor can tell for sure; to
relieve itching, try a top notch penis health cream (health professionals
recommend Man1 Man Oil) with shea butter and vitamin E.