Bell's theorem does not disprove realism. de Broglie-Bohm interpretation of QM is realist, yet it violates Bell's inequality.
In order to understand the consequences of Bell's theorem you need first to understand the EPR argument, since Bell builds on that result.
What EPR has proven was that QM is either non-local or incomplete. In other words, if you want QM to be local you need to "complete" it by adding some other variables. One way to do that is to assume that the measured properties (say the spins of the entangled particles) were already determined at the time of emission. When they are measured you just find out the spins they had all the time.
Bell looked more carefully into this hypothesis and discovered that, if you assume that the hidden variables are not correlated with the settings of the detectors, this idea does not work. Bell's conclusion was that physics is in fact non-local. Here are his words, from his seminal paper "On the Einstein Podolski Rosen Paradox":
"It is the requirement of locality, or more precisely that the result of a measurement on one system be unaffected by operations on a distant system with which it has interacted in the past, that creates the essential difficulty."
In conclusion, together with EPR, Bell's theorem restricts the type of possible theories to these classes:
C1. non-local theories
C2. deterministic hidden variable theories where the hidden variables are correlated with the settings of the detectors (superdeterministic theories)
It is important to notice that the standard/Copenhagen interpretation of QM must be non-local as well, since it clearly does not correspond to C2.
What about realism? If you postulate that realism is the same thing as hidden variables (which is not right, since one can be realist about the quantum state itself, like in the many worlds interpretation) then you may say that Bell's theorem restricts the class of possible local "realistic" theories to C2. You can still have non-local realistic theories, like de Broglie-Bohm interpretation, or superdeterministic realistic theories, like 't Hooft's cellular automaton interpretation.