Listen without interrupting. Listen to any criticism from your manager and then offer a summary statement which shows that you have understood. This does not necessarily mean that you agree. "So what you are saying is that....", "So you feel that...."
Think of feedback as advice and guidance. Feedback gives you a strong insight into how your actions, and perforamance are perceived by key people in the organisation. This can be valuable information in developing your status within the organisation.
Ask for examples. For the sake of clarity, ask for specific examples if your manager tends to make generalised statements. "Poor report writing." is not very helpful, whereas "The ABC report was difficult to understand because it was full of technical terms", is much more helpful.
When you feel the feedback is genuinely incorrect, then respond calmly but assertively with specific examples.
Accept positive feedback. Do not discard it with comments like, "Its just part of my job." or " it was nothing special."
Build into your action plan ways to overcome the negative points raised
Acknowledge and thank your manager for the feedback.