Nipple eczema
Nipple eczema may affect the nipples, areolae, or surrounding skin, with eczema of the nipples being of the moist type with oozing and crusting, in which painful fissuring is frequently seen. 

Some people with atopic dermatitis develop a rash around their nipples. Persisting eczema of the nipple in the middle-aged and elderly needs to be discussed with a doctor, as a rare type of breast cancer called Paget's disease can cause these symptoms.

Treatment ― OTC Drugs
Younger people with a history of other allergies are likely to have nipple eczema, but older people should see a doctor because they may have other malignant conditions like Paget disease. Washing the lesion area with soap does not help at all and can make it worse.

OTC steroid ointment may help to relieve the symptom.
#Hydrocortisone ointment

Taking OTC antihistamine. Cetirizine or levocetirizine are more effective than fexofenadine but make you drowsy.
#Cetirizine [Zytec]
#LevoCetirizine [Xyzal]
      References Correlation of nipple eczema in pregnancy with atopic dermatitis in Northern India: a study of 100 cases 31777355 
      Nipple eczema, although considered to be a minor diagnostic criteria for diagnosis of AD, is one of the most common clinical presentations of AD in the breast. Nipple eczema in pregnancy follows a similar pattern as in other age groups. The clinical profile of patients is similar in cases with and without atopic dermatitis.
       Nipple Eczema: A Diagnostic Challenge of Allergic Contact Dermatitis 24966651 
      Nipple eczema, considered mostly as a minor manifestation of atopic dermatitis, may have unknown causes. However, its clinical course and pattern often make it difficult to differentiate its underlying causes such as irritation or sensitization. Nevertheless, allergic contact dermatitis must be considered an important cause of nipple eczema. We found considerable clinical improvements and reduced recurrence in 5 of the 9 patients who had positive patch tests and followed an avoidance-learning program. In conclusion, allergic contact dermatitis should be considered first in the differential diagnosis of nipple eczema, especially in patients showing bilateral lesions and lesions extending into the periareolar skin.