These are some great articles by Octopart on how to select components. There are definitely times where you have to delve deeper than your supply voltage and amperage ratings. These articles are great at covering more of the nuances.
How to select voltage regulator
How to select a capacitor
How to select a resistor
How to select an inductor
How to choose a connector
Octopart guide ic packages
How to choose a microcontroller
Caught this because Hackaday shared it (post).