Section 1.) AWARENESS
Lots of people dont want to get on CFW due to the risk of being banned. This risk is there even when running on OFW. CFW does raise it a bit more as running on CFW violates one of the sections in Terms & Service agreement for psn, however there are tools out there that disable CFW syscalls, disable CFW (spoofing to OFW), Spoof console ID's and PSID's. These tools help in lowering the risk of getting banned, most newer CFW's have some of these already built in them.
Whenever you chose a CFW to install be sure to read the descriptions carefully on installing as some requires to be specifically 3.55 fw and others can be installed from any CFW or any 4.xx CFW.
Always read descriptions carefully[/U]
Not reading them carefully can permanently damage your console
Playing newer games with mods online greatly increases the chance of account bans. Try games that are at least 2 years old first
Running homebrew application does not mean somebody created this .pkg file to steal your info, homebrew applications for ps3 are tools, games, managers etc that are not licensed or endorsed by Sony or SCE. The things to be aware of if concerned about somebody stealing your info, it will be done through RTE/RTM tools, Injectors, or any various tool on your computer that connects to ps3, so be sure to read through the posts on the tools thread.
When getting console banned Sony usually bans 3 accounts before on that console before banninng the console. So on your third account ban your console will be banned unless however your 1st or 2nd account ban was something serious and/or buying a jailbroken ps3 from somebody and it already has 1 or 2 account bans. So when using testing accounts try to keep it as minimal as possible.

Section 2.) THINGS TO KNOW
When installing CFW be sure to disable internet connection and eject any disc (Game/DVD/CD) inserted into your ps3
Once again Always read descriptions carefully of things you are installing or using, read posts as well. Not reading and installing and/or using it correctly can damage your system that can take alot to fix or permanently damage it.
Don't Just assume its going to work for you cause it worked for them then post on there thread that it didnt work. If you read description you'll see that this mod menu or tool is for version 1.06 and your on version 1.15, more then likely its not going to work. Or the tool could be for CCAPI 2.00 and tmapi only and you have CCAPI 2.60 then you'll need to replace the PS3Lib.dll and CCAPI.dll or install CCAPI 2.00
Homebrew applications and pkg files are the same thing.
When Playing backed up games online, dont sign in till your at the main menu of the game.
If you want to play a new game and mod your main accounts stats then its recommended to have 2 ps3's (one on OFW, the other on CFW) and a tool or mod menu that can edit non hosts stats. Invite main account (On OFW) to your modding accounts (On CFW) lobby and do it that way. Only do this if your not that worried about getting account or console banned on your CFW. NOTE: this DOES NOT mean that the edited stats you put on your main account wont b reset to the beginning.
Whenever your ps3 freezes on CFW and on start up asks to send crash report to Sony, DO NOT send report.
When changing CID and PSID be sure to have your internet connection disabled till completed.
Never give away your console ID to ANYONE unless you know you can trust that person with it, and if making videos on twitch or youtube or whatever then be sure to block the CID part out if it ever displays.
When running on any degub firmware such as Rex 4.46 Rebug, be sure to disable internet connection when switching into rebug mode using rebug toolbox.
Subsection 2.1.) Similar Homebrew apps
I'm creating this section so you save time by downloading and installing pkg files that do the same or quite similar things.
PSNPatch and SEN Enabler have the same basic functions however PSNPatch has a few more incentives like unlocking psn (c00) games and installing RAPs and EDATs these both have the same function built in as the next
PSNinja, PSNPatch and SEN Enabler all wipe history from file. Clearing your game history so homebrew apps arent put on your recent game list and sent to Sony, also clearing crash reports that may have come from running homebrew apps, RTE/RTM tools, mod menus, etc that you dont want to be sent to Sony. However PSNinja has 1 more incentive then the others by clearing browsing data and download history that was performed in Multiman and Irisman, which brings me to my next option
Multiman and Irisman are basically the exact same with different layouts. If you were to put both of these on your system and whichever one you open first will b the only one you can run till you reset your ps3. if you select on the other one after opening the 1st it will display the 1st one you opened as well as open the 1st one when selecting the 2nd. You can try both to figure out which one you like most, I like Multiman the most and others like Irisman so its a toss up.
PSItaManager and GameSonic Manager are the same basic game mangers for running backed up games. However GameSonic manager can change IDPS (CID) as well as PSID, which PSItaManager only can change CID. Both can run backed up games from External Hard Drive, for GameSonic Manger they will need to be in GAMES folder and PSItaManager will need to be in the GAMEZ folder... example: GameSonic Manager(dev_usbxxx/GAMES) PSItaManager (dev_usbxxx/GAMEZ)
BlackBox FTP is kind of useless these days as Multiman, Irisman, PSItaManager, and GameSonic Manager all have built in FTP settings you can set up, just b sure to use Port 21 in Irisman & Multiman, PSIta & GameSonic set it to that automatically when turning FTP on.
NOTE
Be sure to read the firmware and homebrew apps descriptions as some of these pkg files arent supported on certain firmwares.

Section 3.) Avoiding
If you don't really know what your doing or a newb to jb ps3 then DO NOT sign into your main account on the CFW ps3 UNLESS your willing to get that account permabanned. So if you have lots of purchases on that account try not to use it till after using fake accounts for at least 6 months. If your account is permabanned then the only way to unban it is to get Sony to do it by calling them (which is very rare) or file a lawsuit against Sony and having the lawyer convenience the judge that your account was stolen, or that you are innocent. All other vids on youtbue or post on other websites saying that this will unban your account is FALSE. unless the tool hacks Sony network and manually unbans your account then it is FALSE, which there is none.
DO NOT change the PSID without having a matching console ID, unmatched ID's will get your console banned within 2 weeks of signing into PSN with the mismatched ID's. Therefore when buying a CID make sure they also give you matching PSID or you'll pay a lot to get banned again.
Unless its a really old game (3.5yrs+) refrain from playing modded lobbies in public matches. Invite friends to custom/private games
Avoid being signed into psn while running homebrew applications
Making an account with MOD or HACK(ER) in it
Making youtube or twitch videos of you running mods and/or homebrew apps and displaying your sign in email or PSN user name. As this is video evidence for Sony to ban you.
Using your same PSN username on here or any other gaming website as well as YouTube or any similar site where you are displaying mods or home brews.