First thing, there is always a chance that your CPU degrades from overclocking. I have had two cases of CPU degradation, one was a 6600k the other a 2600k. What happens is that the CPU that was completely stable with a particular voltage and core clock will start becoming unstable and requires either more voltage or less frequency.
Second, make sure you actually need and can notice that performance gain before overclocking, unless you do the overclocking for the fun of it. For example, if you game and have a gtx 1060 with a 60hz monitor, chances are that you won't see any benefit from overclocking the CPU.
Third, since this is your first time, I would take a look at intel's XTU software. It is a very powerful tool with basic and...