Should a Hated Word Be Banned?

In the article in UpFront Magazine article on word banning in relation to Nazi's, it brought up a good argument; should a hated word be banned? Words cannot be "banned" nor regulated. You cannot put someone in jail or fine them or make a law that says someone cannot say something. Especially if it were ever to occur here in America, it would violate the "freedom of speech" amendment.
I do believe however, some words should not be used. Words such as "nazi" for some families who had their ancestors killed by Nazi's during WWII do not want to speak of them and I believe it is their right to not want that word to be said. But you can not ban it. People should have the right to say whatever they want and it is up to them to make the decision on what they say to others. Some things are more hurtful than others, but it is part of human nature to make a decision on what you are going to say and who you are saying it to and under what context. It would cause too much of a stir if one person said something and was fined thousands of dollars because he pronounced the word "Nazi". It's one thing banning production of a product because it is wrong or harmful, but words are different. Anyone can say anything at anytime.
In conclusion, words should not be banned. I am all for that some words should be forgotten and carry around a bad definition and may hurt particular families or individuals, but overall, you cannot ban a word under the law. Freedom of speech is one of America's amendments and in other countries as well.