LOL! I'm glad when I had my hernia, chopping off my dick was not on the list of treatment options. That would have sucked.
To the OP, it does sound like a hernia. If you don't get it fixed, it can end up leading to a trip to the emergency room if it becomes strangulated and those can be fatal if untreated.
When I had my hernia surgery, I was unable to train for about four weeks. I was able to resume after that, but slowly. It took about another month before I really felt comfortable with training hard again.