My cat recently had a hot spot, it never got infected but the skin was broken; it was Thanksgiving day and no vets were open when I first discovered it or I'd have taken her to have it checked out.
But, 'cause the vet was not around, I first put neosporin on it, then used some of the Vetracyn spray that I'd bought when one of my hens had a bad cut (Vetracyn makes med specifically for hotspots but I just had the regular). I also started adding salmon oil to her food (both cats were starting to get flaky skin I think the dry winter air wasn't doing them any good). I kept at the vetracyn/neosporin thing for a few days and by sunday it was looking better so I never went to the vet (if it had been infected I probably would have pushed to get her in to see them on Friday). That process did clear it up, took less than a week (but longer for the fur to grow back).
Also, I'm continuing to add the salmon oil to their food thru the winter months as I am pretty sure that the dry air was the cause for my baby; as someone said knowing the cause is very important you don't want to clear one hot spot only to have more occur.