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It looks like either a sebaceous cyst or a nodulocystic acne
which got inflamed because of squeezing and now it has got infected. You need to apply an Antibiotic cream like Mupirocin
2% cream three times a day. Antibiotic tablets
will help clear it faster for which you need a prescription. You may take paracetamol
for pain and can also use warm compresses. Do not squeeze it.
Hope this helped