Authentication in a Python code

Your API video talks about using API Key as basic authentication. It works well in Postman.

I want to call the API from a Python code.

This is the text on the API Documentation page:

"Provide your API Key along with every API request using Authorization HTTP header:

Key Value
Authorization Basic username:password"

After trying and failing multiple combinations of API Key and username:password, I want to request to provide a working example of Python code, where I can see exactly how to do the authentication. Using an API Key or UN/PW or both?