what is this part called?
the bent bar
That bent bar is not really bent. It is a stabilizer bar and they are shaped that way to fit and not rub on other suspension parts while bouncing up and down. Look at the other side to confirm my info. To actually bend that bar would take a heck of a crash, and you surely would have felt that. And yes, it is wise to look your vehicle over once in a while for broke/failed parts.