I'm a little perplexed on how you touched the CPU while it was running... being that a huge heatsink should be covering it.
That aside, yes CPU's get very hot, very quickly if not cooled correctly. The heatsink that came with your CPU (it did come with one right?) is adequate enough to cool the CPU using stock speeds. It sounds as if you do not have the heat sink installed correctly.
Remove the heat sink. Remove the old thermal paste from the CPU and the heat sink (you can use rubbing alcohol if that's all you have at home). Apply new thermal paste (you can look up video's on You tube to see how to do it correctly, as you only need a little) and then re-seat the heat sink on the CPU. It's very important that when locking the plastic clips down on the heat sink into the Motherboard that you do a diagonal pattern to ensure even seating (Top right first, then bottom left, top left, then bottom right)
You should not run into any issues after this. If you still are having problems, I would look into an aftermarket cooler which only runs around $30 if you are overclocking your CPU.