IHttpHandler interface is implemented by all the handlers. The interface consists of property called IsReusable. The IsReusable property gets a value indicating whether another request can use the IHttpHandler instance. ProcessRequest() method allows you to process the current request. This is the place where all your code goes. This method receives a parameter of type HttpContext using which you can access the intrinsic objects such as Request and Response.
IHttpHandlerFactory interface consists of two methods - GetHandler and ReleaseHandler. The GetHandler() method instantiates the required HTTP handler based on some condition and returns it back to ASP.NET. The ReleaseHandler() method allows the factory to reuse an existing handler.