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How To: Configure MachineKey in ASP.NET 2.0 - Web Farm Deployment Considerations
Web Farm Deployment Considerations
If you deploy your application in a Web farm, you must ensure that the
  configuration files on each server share the same value for
  validationKey and decryptionKey, which are used for hashing and
  decryption respectively. This is required because you cannot guarantee
  which server will handle successive requests.
With manually generated key values, the  settings should
  be similar to the following example.
<machineKey  
validationKey="21F090935F6E49C2C797F69BBAAD8402ABD2EE0B667A8B44EA7DD4374267A75D7
               AD972A119482D15A4127461DB1DC347C1A63AE5F1CCFAACFF1B72A7F0A281B"       
decryptionKey="ABAA84D7EC4BB56D75D217CECFFB9628809BDB8BF91CFCD64568A145BE59719F"
validation="SHA1"
decryption="AES"
/>
If you want to isolate your application from other applications on the
  same server, place the  in the Web.config file for each
  application on each server in the farm. Ensure that you use separate
  key values for each application, but duplicate each application's keys
  across all servers in the farm.
In short, to set up the machine key refer the following link:
Setting Up a Machine Key - Orchard Documentation.
Setting Up the Machine Key Using IIS Manager
If you have access to the IIS management console for the server where
  Orchard is installed, it is the easiest way to set-up a machine key.
Start the management console and then select the web site. Open the
  machine key configuration:
  
The machine key control panel has the following settings:

Uncheck "Automatically generate at runtime" for both the validation
  key and the decryption key.
Click "Generate Keys" under "Actions" on the right side of the panel.
Click "Apply".
and add the following line to the web.config file in all the webservers under system.web tag if it does not exist.
<machineKey  
    validationKey="21F0SAMPLEKEY9C2C797F69BBAAD8402ABD2EE0B667A8B44EA7DD4374267A75D7
                   AD972A119482D15A4127461DB1DC347C1A63AE5F1CCFAACFF1B72A7F0A281B"           
    decryptionKey="ABAASAMPLEKEY56D75D217CECFFB9628809BDB8BF91CFCD64568A145BE59719F"
    validation="SHA1"
    decryption="AES"
/>
Please make sure that you have a permanent backup of the machine keys and web.config file