I can't see where aloe would help. If its a hot spot, the only way to avoid a blister there is to pad it and/or back off the activity that's putting pressure on it. The moleskin and fabric sports tape are great at that.
Once the blister's formed, I generally pierce it at the edge to let it drain and cover it with a bandage to try to keep the skin from peeling off before its healed underneath.
If the skin peels off, use an antibiotic like bacitracin or neosporin and keep it covered with a non-stick (telfa) pad to keep it from getting infected.
An infected blister (or other foot wound) can lead to serious complications, especially in diabetics or people with compromised circulation in their feet, so take any infection very seriously.
One thing more- lots of people (especially diabetics) don't have a lot of sensation in their feet. if thats' the case, then you need to pay very close attention to preventing blisters. Stop periodically and check for hot spots and treat them immediately. Change socks often and keep your feet as clean as possible.