Fast Blotting Will Save Your Carpet
Spilling on carpet may seem like the ultimate painting disaster, but it doesn't have to leave a permanent stain. The keys to complete stain removal are speed and lots of water. Latex paint dries fast and seconds count. Don't go for the water bucket yourself. Shout for someone else to bring it. Immediately scoop up the spill with a wide putty knife, dustpan or whatever is handy. Don't wipe up the spill; you'll just force the paint deeper into the carpet. Then start to blot the paint with a wet (not just damp) rag. Keep the paint wet. Continue blotting, refill the bucket with clean water and blot some more until the paint is no longer visible. When you're done, set up a fan to dry out the soaked carpet.
For small drips or splatters, use the opposite approach. Just let the paint dry. Tiny drops of paint will sit on the carpet's surface. Just be careful not to step on them. After they dry, trim them off with a scissors.