Yup, Prep H works well for my daughter. She even keeps a tube in her gym bag---not sure why because you don't put in on in the middle of practice! We have done that and the sock on the hand at night. For a bad rip her coaches will make the tape grips for the girls to use during practice.
As GT said, many of the kids celebrate their 1st rips. Mine went to school with her hand all taped up(she didn't need the tape, but insisted). Of course this lead to many questions from classmates and she was very proud to take the tape off and show them all what a rip looks like. Between the rips and some bruises on her legs, we had to explain to her teacher these were all normal gym injuries and she was NOT being abused at home.
As your dd does more bars, her hands will toughen up. Then you want to use a good lotion(many are suggested here) and shave down the calluses. Will all that prevent more rips---no, but it should limit the number she gets.