There are different tools used.
One that I have is a brass cylinder, which has slits and can be expanded. Adjust the tool until it can be barely pushed under the dent. Tap the outside of the barrel with a non-marring hammer. Repeat until the bump is ironed out. It is remarkable how a dent can be raised. Usually there is only a slight mark where the dent was.
I have also turned brass slugs to just fit the bore with a tapered leading edge. Tap it toward the bulge, tap the bulge, keep going until the bulge is raised.
You can also turn a series of slugs each slightly larger, and tap them through the barrel.
There are also rather expensive mechanical tools which have a lug which is raised to push out the dent.
A minor bulge will not affect shooting, and is not likely to be a safety concern. Unsightly, though.