Are there any risks to eating rare steak?  What is the safest cooking level for steak without having it too overcooked?
Eating rare steak can be risky because it may cause food-borne illnesses or parasitic infections. When steak is not cooked to the appropriate temperature, harmful bacteria like E. coli and Salmonella can survive and cause food poisoning. Salmonella, can cause stomach pains, high fever, and watery diarrhoea. There is also the possibility of getting infected with trichinosis, a parasitic infection caused by a type of roundworm that can be found in undercooked beef.

USDA recommends a minimum internal temperature of 145 °F (62.8 °C) for the cooking of all raw beef. For safety and quality, the meat should be allowed to rest for a minimum of three minutes before carving or eating. This results in a medium doneness level.

However, if you prefer a more tender and juicy steak, you can cook at an internal temperature of 130-135 °F (54-57 °C). It should be noted that this temperature range is below the recommended USDA level of 145 °F (62.8 °C) and increases the aforementioned risks.
Are the risks different for eating rare chicken? What about undercooked penguin?