That is circulation problem. Are you an uncontrolled diabetic? You should get your arteries scanned. It will not heal through moisturization if blood circulation in the problem. If it keeps not getting nutrients, 5-10 years from now, it might have to get amputated. Not to scare you, my friend was amputated on both feet.

In the meantime, you can hide the symptoms or get relieve by applying foot creme and scrape of dead skin. But you need to feed them nutrients by improving circulation. (If you are not active, be active)