You need to unlock handlers. This can be done using following cmd command:
%windir%\system32\inetsrv\appcmd.exe unlock config -section:system.webServer/handlers
Maybe another info for people that are getting this error on IIS 8, in my case was on Microsoft Server 2012 platform. I had spend couple of hours battling with other errors that bubbled up after executing appcmd. In the end I was able to fix it by removing Web Server Role and installing it again.