I haven't noticed it in regards to my knitting, but here in the Midwest our winters are very, very, dry and usually very cold. My fingers get these horrible cracks in them, and they get VERY sore.
The best thing I've ever found to heal them is called Dermal Therapy Finger Care. I used to be able to buy it locally, but the store I bought it at quit carrying it so I've started ordering it over the 'net. It comes out of Canada, and it is awesome. It has silk protein and urea in it, and it heals the cracks and softens up the skin like nobody's business. I'd recommend it highly. I tried the Bag Balm, Tea Tree Lotion, pretty much everything and this is the only stuff that works for me.