Funny was thinking last week about this topic as I want to start gming call of cthulu. Also mentioned the below (the essence at least) just on the discord channel, apparently its a hot topic now
). The 7e framework for mt actually has a build in handout system and granted if you want to create handouts either on the fly or text only its useful to have something to store those in.
on the other hand if you have handouts prepared (like i now have) I realised that the by far most easiest method is simply putting them all on a map and set them to 'visible to owner only'. its insanely simple and as players can set owner, you can have someone find a handout and they choose whether they share it with the rest or not.
One could consider building a macro around it that scans all handouts on the handout map so you can pick and choose or even use it to show pop-ups or let the players set the ownership through there.
But the beauty of it is is that without any macro it works just out of the box!
Since im rambling anyway, perhaps it would be nice to be able to create handouts on the fly (with nice frames and such, can use nildiks frames for that) and place that 'text handout' as a token on the handout map as well.
Other things to consider is having the handouts have some properties or states to easily sort, find, group, whatever.