Utility and control-cabinet keys do not require much maintenance.
Wipe any dust particles from the tool and make sure it is dry before storing it, particularly if it is an untreated zinc alloy key. Water and dust both increase the speed of corrosion.
Try to avoid using profiles that are not the right size for a lock or valve as this can damage the heads of both.
Over time and extended use the profiles of the tool may wear down, in which case you will need to replace the whole tool as the heads cannot be replaced separately.
Store your key in a safe, dry place, such as a toolbox, so you always have it to hand.