Re: Thinking my drum mic is fixing to go bad.
I don't think your mic is defective, your technique is.
Yes, the compressor can cause feedback if you rely on fairly heavy compression and then use the output gain knob to make up for the lowered average signal. The compressor is "turning down" the kick drum when the signal goes over the Threshold setting and you apply the gain. When the compressor releases, it is no longer "turning down" the kick, but the GAIN is still there.
Since this seems to be a first time occurrence for you, I'd also wager a guess that the kick drum was tuned to a frequency that caused it to vibrate "sympathetically" and that also contributed to the feedback.
Back down the compressor's level reduction (raise the threshold or lower the ratio) and then reduce the amount of output gain used. And you would probably benefit more from a gate on the kick than a compressor.
The impact of a kick drum is a <40ms event. What are you hoping to accomplish with the compressor?