AWS is the cloud service and is a part of amazon. You can use aws for different purpose starting from creating VPS, RDP, launching websites, and even you can start your webhosting business. 350$ is developer credit and valid for 1 year where as 1150$ is for regular credit and is valid for 3 years.
What you will get?
1. AWS login
2. Email Login
3. Port 25 open region (US-east-1)