cook it on a lower temperature it takes longer to cook but it won't pop as badly, Or you can avoid it all together by cooking it on a baking sheet in the oven (be sure to use one that has a lip all the way around so the grease doesn't run off)
cook the bacon at a reasonable temperature for cooking meat, and stand back while holding the handle. Most of the oil and such shouldn't go on you. Be sure to stay close enough, though. Nobody wants burnt bacon as a first resort.