With all the bad in the world how can a kind and loving God be almighty and ruling over it?

"The world is filled with wonderful opportunities brilliantly disguised as intractable problems."

Human beings can only reach virtues by choosing with their free will not to pursue vices. If a computer is programmed to always tell the truth we wouldn't call it virtuous. To appreciate light there must be darkness. To appreciate life there must be death. We cannot learn unless we make some mistakes.

Indeed God does have absolute knowledge of all things and has power over all things and He does love human beings. The bad in the world should be seen, not as inherently bad but rather as lessons for humanity from which it must learn and through which we appreciate the value of good things as and when we earn them through our efforts.