Amazon Identity and Authorisation Management is now out of beta and has both a GUI and a command line unfortunately it still does not work with Elastic Beanstalk.
It gets worse. You single username and password provides complete access to all Amazon properties including shopping and associates. So unless you want to share this with your colleagues you need to set up a separate email address and Amazon account for your AWS work.
I want to work with Chris and Peter on our new project.
I set up a an email address email@example.com and use this to create a new Amazon Web Services account. I don’t link it to any other accounts. I give the username and password to Chris and Peter and we share admin access.
Later when Elastic Beanstalk supports IAM I can reconfigure this account with more appropriate permissions.