Ask YC: Safe to release user entered information gathering websites without being a company?

I'm currently working on a project that I would like to make available to everyone, not just friends and coworkers, but I'd rather not, at this time, make it into a startup. The project involves collecting information about a user's diet as well as profile information. By default the user entered information is public (though there is a way to make it private as of yesterday) and none of the information in the profile is required. What advice do you guys have on starting personal projects like this? Will a basic privacy policy and a terms and conditions page be enough to protect me? Should I not even be worried about it? Thanks in advance.