How to restore cracked sneakers?(will choose best answer immediately)?

Dont know how familiar with sneakers you are, but i traded some kicks for a pair of jordan 6's (oreoes , white , i guess leather is a good way to call it , with black suede) and the white leather im uming is the best thing to call it is chiped a good lot , i would like to know what would be a good way to fix this ? i was thinking nail polish but aint wanna **** it up , maybe someone can reure me ? thanks