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I am trying to configure one of my WFE servers to connect to an existing database using SharePoint Foundation 2010. Every time I try to configure using the SharePoint Products Configuration Wizard I get the following error:

Failed to connect to the configuration database

An exception of type System.Security.Cryptography.CryptographicException was thrown: Additional exception information: Keyset does not exist.

I have tried several proposed solutions including modifying the security to folders on ther server and this resolution as well: http://support.microsoft.com/kb/2781614

What is extremely confusing is that I was able to setup a different WFE server in the same farm with no issues. The plan is to have 2 WFE, but for some reason my second will not configure. Any pointers?

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did you try to reboot the server? also try to run the psconfig.exe.....Couple of things to check...permission on 14 hive directory, disjoing and rejoin the server to domain. –  Waqas Sarwar MCSE Mar 11 at 3:08

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