When my chickens were young some of them would peck their feet, or other chickens feet, because (I assume) they look similar to the mealworms I was feeding them. They got over it pretty quickly though. If it's just a small cut, I would sterilize it and not worry too much. I also noticed that they messed with each other a little bit less when there was food always available.
My birds free range, and they have nicks and scrapes all the time, even dripping blood, but it's never caused an actual problem. Chickens are pretty tough animals. Styptic powder is great for injuries that won't stop bleeding. A hawk tried to fly off with one of my girls and her comb got scratched, she kept shaking her head and flinging blood around to try to get it out of her eyes, but a pinch of styptic powder and it immediately stopped bleeding.
If they're pecking each other and causing injuries, separating them for a little bit might not be the worst idea.
