It cuts quite easily with most knifes. A razor works fine, but isn't long enough. Any gloves will work fine. As Jim said, it can be handled with your hands, though gloves are typically recommended. The only places I've really gotten itchy are the inner portion of my wrists.
Another vote for the electric knife here. If you ever need to cut OC705, those Exacto knives and long blades just get chewed up/dulled so quickly. Using a serrated reciprocating blade (aka a turkey carver) works just like a hot knife through butter!