I work in a pet store and we use bleach on everything in our store, including aquarium stuff. I used to use it at home for all kinds of stuff, as well, although I've recently switched over to using chlorhexadine, because it breaks down to simply being water after a couple days, and because it's non-toxic, anyway. I've always used bleach in a 1:19 ratio with water. Everyone who's nixing bleach is right, bleach is definitely harmful, but it seems like people are missing out on something here-
What is in bleach that makes it effective? Chlorine! Go ahead, use bleach! Just rinse it really well (preferably with hot water). Heat, air, and sunlight all help biodegrade bleach faster than it normally does (which DOES happen to standard hypochlorite bleach). And finally, rinse it with a STRONG solution of a dechlorinator. At work we soak decorations, rocks, containers, UGF parts, etc. . . in strong bleach solutions, and simply rinse them in hot water then rinse with a strong Start Right solution. We use the powder and mix it to the point that it turns the water really blue. We normally let stuff sit out 24 hours after that, but we've all scrubbed/soaked things in bleach and then put them back in a tank directly after soaking for about 10 minutes in Start Right, too, and we've never had a problem with it.
Now, as they've said, bleach is corrosive, so it will discolor things, and it'll definitely shorten the life on your seals on your aquariums. But it can safely be used around fish as long as you make an effort to neutralize it.