In this study, we present a generalized spherically symmetric, anisotropic and static compact stellar model in $f(T)$ gravity, where $T$ represents the torsion scalar. By employing the Karmarkar condition we have obtained embedding class 1 metric from the general spherically metric of class 2 and the solutions of the Einstein field equations (EFE) has been presented with the choice of suitable parametric values of $n$ under a simplified linear form of $f(T)$ gravity reads as $f(T)=A+BT$, where $A$ and $B$ are two constants. By matching the interior spacetime metric with the exterior Schwarzschild metric at the surface and considering the values of mass and radius of the compact stars we obtain the values of the unknown constants. We have presented further a detailed analysis of the physical acceptability and examined the stability of the stellar configuration by studying the energy conditions, generalized Tolman-Oppenheimer-Volkov (TOV) equation, Herrera cracking concept, adiabatic index, etc. In the investigation, we predict numerical values of the central density, surface density, central pressure, etc., in a tabular form taking different values of $n$ specifically for $LMC~X-4$, $Cen~X-3$ and $SMC~X-1$ as the representative of compact star candidates.