The word 'baka' is said to be a bad word, but in the environment where I grew up, I don't think it was considered that bad.
Literal
'Baka' [quotative-という] word [topic-は], bad word [quotative-だと] is-said but, I [possessive-の] grew-up environment [at-では], that-much bad word was-not [as-if-ように] think.
~と言われている (is said to be) introduces received wisdom. ~ように思う (I feel/think) is a softer, more reflective version of ~と思う. 成長してきた (have grown up) uses ~てきた to mark a process that has continued up to the present. The sentence thoughtfully navigates subjective vs. social judgments about language.