I was masturbation vigourisly and now the base of my penis is swollen. What should I do? Is it bad? Should I be worried?

Probably not. Skin edema (swelling) can be caused by vigorously masturbating for a long period of time & not uncommon. This will resolve. Fracture of penis is theorectically possible if penis is forceably bent during masturbation. This would result in a hard, tender & painful bump with penile deviation at site of fracture. This would constitute an emergency and require surgical repair. Hope this is not the case.