Is there a tool for .NET which will generate explanations (comments) of code if we give it function or event handlers (like GhostDoc which we feel is not a good tool)?
Actually, ///
doesn't generate any documentation, just empty XML tags. Where GhostDoc shines is in generating MSDN style documentation (including the verbiage) automatically, based on contextual information such as property, class, visibility, usages etc.
Here are some true alternatives:
Now, whatever you do, please do not produce undocumentation! :)