I think this is a case where the repair is worse than leaving it alone.
I've whacked my rims numerous times and they've lasted for years. I also destroyed new rims in just a couple rides.
The only fix is to try to flatten out the hump a bit, but that could weaken the aluminum sidewall of the rim.
I'd leave it and just deal with the wierd braking.
If you insist on trying to better the situation. Get a block of wood and lay it flat against the side of the rim (remove tire),(heck, remove wheel off of bike and lay the rim against something firm or you'll knock the whole wheel out of true.)
Remember, it's better to start gently than to ham fist the job!
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"Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming, "WOW, What a Ride!" - unknown
"Your Bike Sucks" - Sky Yaeger