Okay, you've got a critique, preferably more than one, from people who can be trusted to be blunt and honest.
It hurt, but you got over that. Now, you need to glean some goodness out of all that commentary. After all, that's the whole point of the process, right?
I'm not going in to all the details of how to read a critique, but here are some pointers I use to help me decide what nuggets to pay attention to.
The blindingly obvious
Some things - obvious typos, for example - make me go, "Doh!" *Facepalm*
More subtle, but equally obvious, are those light bulb moments. The moment the critiquer says it, you wonder why you didn't think of it yourself. These can be anything from wording or sentence suggestions, to plot points or character development.
These are so obviously right, that you don't need to put much effort into accepting them, though what to do about them isn't always so clear.
Things you don't want to hear
But handling critiques isn't all plain sailing. Sometimes you need to hear hard truths, things that go against the grain, things you don't want to hear.
How to identify nuggets of gold that you are inherently resistant to seeing?
One thing I look out for is if more than one critiquer makes the same observation. That is always a good clue that there's something worth further consideration.
Another group of comments I pay close attention to is gut reader reactions. Things that are running through the critiquer's head as they read. These may appear as criticism, or a good critiquer may identify them as running observations, but either way they are worth looking at. Whether the reaction is what you wanted or not, it is a window into how your story is landing in someone else's mind. That kind of feedback is golden.
Similar, are comments that give you a new perspective on your work - I didn't see it could be read like that! Again, a window into another world. If a reader mis-reads your words, you don't get to beat them over the head and say, "That's not what I meant, dummy!" All you have to play with are the words you choose to put on the page, and it's useful to know if they are not conveying what you intended - whether you like it or not.
That doesn't necessarily mean you need to do anything about it. The reaction may be exactly what you want, or it may be clear that the reader is too far removed from your target audience, but discarding comments should be a reasoned choice on your part, not a gut reaction.
It's not all bad news
Not all critique comments need be bad news. Sometimes, they just make you think, maybe lead you to new ideas, new avenues to explore in your story.
And sometimes, you get to hear what people actually like. As long as you can trust this is genuine, and not the dutiful gushing of a doting relative, it's invaluable to know what is working for that reader.