There are two main ways to create effective handouts from a presentation: printing slides straight from presentation software with adjustments for page layout, or sending the presentation to Word for more customization options. When creating handouts in Word, the presentation content can be formatted in various layouts like slides with notes, outlines, or slides with blank lines for audience notes. This allows for handouts that enhance engagement, facilitate comprehension of key points, and provide additional details or activities beyond what could be covered in the presentation.