Well, what kind of exploits are you thinking about? If you want to write something that needs low level stuff (ptrace, raw sockets, etc.) then you'll need to learn C. But both Perl and Python can be used. The real question is which one suits your style more?
As for toolmaking, Perl has good string-processing abilities, is closer to the system, has good support, but IMHO it's very confusing. I prefer Python: it's a clean, easy to use, easy to learn language with good support (complete language/lib reference, 3rd party libs, etc.). And it's (strictly IMHO) cool.
