The white stuff looks like fungus and can be treated with salt (1 heaped tablespoon per 20 litres (5 gallons) of tank water. keep salt in there for 1-2 weeks.
The lumps could be a physical injury or an infection. Both can appear overnight but normally an infection takes a day or two to get as big as the red lump on the fish.
Minor infections can usually be treated with salt so that would be the first place to start. If you don't want to use salt, then a broad spectrum liquid fish medication from a pet shop should work. Get one that treats bacteria and fungus infections.