AWS API Keys are powerful things that you don’t want to leave lying around. Amazon’s suggestion is to keep them in ~/.aws/config. I’m not a fan of that. OSX has KeyChain, which is a secure repository for credentials and what most OSX Apps use for caching your login to various websites. This might not be the ideal solution, but it’s better than an unencrypted file in your home directory.
I’ve built a set of three scripts that will use OSX Keychain to store your AWS_ACCESS_KEY_ID and AWS_SECRET_ACCESS_KEY, and retrieve them into environment variables when needed to use the AWS API or any script that honors those environment variables.