Step 2: Examine the lump. Is it pale? Firm? Odorless? No green/black discoloration? No slime? If yes, proceed.
Step 3: Use a knife to cut around the lump. Remove it from the slice.
Step 4: Inspect the rest of the bacon. If everything else looks normal, cook as usual.
Step 5: If you’re still uncomfortable, cut off the affected slice entirely and cook the rest.
Step 6: If you’re really squicked out, toss the whole package. But know that you’re throwing away perfectly good bacon.