I've also heard carmex has stuff in it to dry your lips, which seems like a reason to buy more carmex.
Anyway, I echo the warm wet towel routine, and something on your lips. Olive oil is a great moisturizer for anything at all.
Chapstick works great in protection from drying, but once they're dry it doesn't help heal the lips.
What works for me are the Bonne Bell lipglosses. They usually come in packs of three or more. The Dr. Pepper in specifically.