AWS KMS allows you to centrally create, manage, and control access to encryption keys.
Correct. AWS KMS (Key Management Service) is a managed service that centrally handles the creation, storage, and rotation (periodic key replacement) of encryption keys used for data encryption. It allows access control over who can use which key via IAM and key policies, and lets you audit when and by whom a key was used via CloudTrail. Many AWS services—including S3 and EBS—use KMS keys for encryption.