[Disclaimer: I know, if you know anything about crypto you\'re probably about to tell me why I\'m doing it wrong - I\'ve done enough Googling to know this seems to be the ty
In cryptography you are what you know. In your scenario, you have a central authority which is able to issue your cookies, and you want no other entity to be able to do the same. So the central authority must "know" some private data. Also, you want the "trusted web servers" to be able to access the contents of the cookies, and you do not want just anybody do read the cookies. Thus, the "trusted web servers" must also have their own private data.
The normal way would be that the authority applies a digital signature on the cookies, and that the cookies are encrypted with a key known to the trusted web servers. What your are thinking about looks like this:
Although such a scheme may work, I see the following problems in it:
The problem of ensuring confidentiality and verifiable integrity in the same type is currently being studied. You may look up signcryption. There is no established standard yet.
Basically I think you will be happier with a more classical design, with digital signatures used only for signing, and (symmetric or asymmetric) encryption for the confidentiality part. This will allow you to use existing libraries, with the least possible homemade code.
For the signature part, you may want to use DSA or ECDSA: they yield much shorter signatures (typically 320 bits for a DSA signature of security equivalent to a 1024-bit RSA signature). From the central authority point of view, ECDSA also allows better performance: on my PC, using a single core, OpenSSL crunches out more than 6500 ECDSA signatures per second (in the P-192 NIST curve) and "only" 1145 RSA signatures per second (with a 1024-bit key). The ECDSA signatures consist in two 192-bit integers, i.e. 384 bits to encode, while the RSA signatures are 1024-bit long. ECDSA in P-192 is considered at least as strong, and probably stronger, than RSA-1024.