Try mederma its a topical creme that should help fade scars. Unfortunately the keloid scars are much much harder to reduce because they start out so much larger. I have a similar keloid scar on my wrist and I just joke about it when people notice it.
On future cuts and such be sure to use something like neosporin to make them heal fast and never pick at the scabs. Thats the best way to try and prevent the new keloids from appearing.
