By far and away one of the more challenging things about using the cloud is to follow good security practices even in your personal accounts. For example, if you are going to use a tool of some sort for experimentation do you create a user/credentials specific to that tool and usage or do you use your full-up account and perms because it is convenient and quicker? You should recognize that if the tool has a bug (or is malicious) you are likely exposing your account in a big way if so.
The Kubernetes kops tool documentation page has a good example of what AWS perms are needed and how to create them at the following link.
This is a good model to follow if you are creating (or using tools) for cloud services. https://github.com/kubernetes/kops/blob/master/docs/aws.md
Something to note on this subject. An even deeper aspect to perms is to restrict the perms to specific usages if possible. What I mean by that are things like “FullAccess” for IAM. If the related key was exposed someone might be able to modify existing or create new roles and policies. Instead, you might modify the arn to be very specific about what it has access to and prevent the “everything” aspect of it if possible.
I am sure that there will be more to come on this subject.