HTTP modules differ from HTTP handlers. An HTTP handler returns a response to a request that is identified by a file name extension or family of file name extensions. In contrast, an HTTP module is invoked for all requests and responses. It subscribes to event notifications in the request pipeline and lets you run code in registered event handlers. The tasks that a module is used for are general to an application and to all requests for resources in the application.
You can get more information on MSDN – HTTP Handlers and HTTP Modules Overview
