The word handicap refers to the social consequences of the disability. The person who is blind has a disability. This person is handicapped when print materials are not available in alternate media. The word disability is generally preferred. A disability is a medical or psychological condition or limitation and the handicap is the environmental or societal obstacle.
Disability is a noun.
Disabled is an adjective. There are NO acceptable replacements for judgmental or stereotypic words or phrases. People first language empowers people with disabilities to be treated as fully functioning individuals and not summarily characterized by a physical attribute.