I have applied too much thermal paste, and it has overflowed onto the small circuit board that surrounds my CPU. I removed most of it, but i am unsure if I have damaged my CPU.
Arctic Silver 5 was formulated to conduct heat, not electricity. (While much safer than electrically conductive silver and copper greases, Arctic Silver 5 should be kept away from electrical traces, pins, and leads. While it is not electrically conductive, the compound is very slightly capacitive and could potentially cause problems if it bridges two close-proximity electrical paths.)