Combine equal parts (1 tablespoon of each is reasonable) of:

-Camphophenique (topical anagelisic comes in a small green bottle);
-Vaseline; &
-Flowers of Sulfur powder (available from most health food stores - I found it at a feed & seed store)

Mix together to form a paste and dab onto hot spot.

I got this "recipe" from some basset friends of mine and they say it "works great -- hot spots usually clear up in a day or so." I recently had the chance to use it on a small hot spot I found on Abby's back, between her shoulder blades. It did clear up incredibly fast - I only treated it twice.

However, I had tried it on one of Sadie's paws earlier, and it did not do a thing. But she turned out to have a lick granuloma rather than a hot spot. They are very difficult to get rid of. Also, my friend has a puppy who lost a patch of hair on his head and it turned out to be some kind of mites that were also very difficult to get rid of, requiring special treatment.

So, I would suggest that if it doesn't clear up in a week or so that you let a vet look at it.

(courtesy Beth, Lily, and Kaylee)