As per MSDN Generic Handler is a default handler which will have @webhandler directive and has .ashx extension this generic handler is not having UI but it provides response when ever any request made to this handler.
HTTP Handler is a process which runs and continue to server request and give response based on the request handling code. This handler does not have UI and need to configured in the web.config against extensions. One of the great example of Http Handler is page handler of ASP.NET which serves .aspx pages request.
Following is a main differences between http handler and generic handler.
Hope you liked it.Stay tuned for more..Till then happy programming.
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