Ibn Majah

Benefits and Issues:

➊
The mentioned narration has been declared weak in its chain by our esteemed researcher, whereas Shaykh al-Albani rahimahullah has graded the rest of the narration as hasan (sound) except for the part about embracing. See: (al-Silsilah al-Sahihah no. 160).
However, the researchers of Musnad Ahmad and Dr. Bashar Awwad have declared it weak in its chain.
The researchers of Musnad Ahmad write regarding this that the follow-up chains mentioned by Shaykh al-Albani rahimahullah are also severely weak, due to which the mentioned narration remains weak.
They further write that apart from the mentioned narration, the legitimacy of shaking hands (musafahah) and embracing (mu‘anaqah) is established from other authentic narrations, such as the narration in Sahih al-Bukhari, Jami‘ al-Tirmidhi, Musnad Abu Ya‘la, Ibn Hibban, and Sunan al-Kubra al-Bayhaqi, where it is reported that Anas radi Allahu anhu was asked:
Did the Companions radi Allahu anhum use to shake hands with each other during the blessed time of the Prophet sallallahu alayhi wa sallam? Anas radi Allahu anhu replied:
Yes, the Companions used to practice this. Also, in al-Mu‘jam al-Awsat of Tabarani, it is narrated from Anas radi Allahu anhu that when the Companions radi Allahu anhum met each other, they would shake hands, and when they returned from a journey, they would embrace. Therefore, the issues mentioned in the aforementioned narration are not established from any authentic marfu‘ (attributed to the Prophet) hadith, but they are established from authentic athar (Companions’ reports), from which it is understood that acting upon the issues mentioned in the narration is permissible.
And Allah knows best.
However, the virtue of shaking hands is established from authentic marfu‘ ahadith, as is found in the following narration.
For further details, see: (al-Mawsu‘ah al-Hadithiyyah, Musnad al-Imam Ahmad: 20/240, 241, and Sunan Ibn Majah with the verification of Dr. Bashar Awwad, no. 3702)

➋
It is prohibited to bow while giving salam (greeting) at the time of meeting, because this resembles ruku‘ (bowing), which is an act of worship for Allah.

➌
Kissing the feet resembles prostration (sujud), therefore it is even more strictly prohibited.

➍
Shaking hands (musafahah)
is a Sunnah.
Shaking hands should be done with the right hand, not with both hands.
The meaning of musafahah is to join with the palm, not with both palms, nor should two palms be joined to one palm.