The OWASP API Security Top 10 provides a framework for securing APIs by identifying the top ten most common threats to APIs and giving recommendations on how to prevent them. The list covers various types of risks, including broken object-level authorization, excessive data exposure, lack of resources and rate limiting, and insufficient logging and monitoring. To address these risks, teams can take steps such as scanning for vulnerabilities, educating their team about API risks, and improving secure coding skills. Tools like Snyk offer resources to help organizations run more secure APIs and provide application and cloud security solutions to support their security posture.