The rule detects the creation or updating of IAM credentials in AWS using CloudTrail logs. When a user creates a new console password, access key, or a new user identity, it generates a log entry that satisfies this rule. The rule primarily tracks events like 'ChangePassword' and 'CreateVirtualMFADevice' in IAM, capturing relevant attributes such as event name, time, user identity, and IP address of the requester. The rule is categorized as informational, and no action is required upon detection, serving instead as a log of changes in IAM credentials, which can be vital for audits and monitoring possible user account manipulations.