I’ve done some quick research with Google and found the following.
If you receive Windows Update error 800b0001, it means that Windows Update or Microsoft Update cannot determine the cryptographic service provider, or a file Windows Update requires (named catalog store) is corrupted. The System Update Readiness Tool can correct some conditions that cause this error.
In Article KB947821 they explain a way in Server 2012 and Win8 to use dism to scan the image health. For “older” Operating Systems, there’s a Tool that can help repair Windows Update.
So in Server 2012 and Win8, just run the following commands as elevated admin:
DISM.exe /Online /Cleanup-image /Scanhealth
DISM.exe /Online /Cleanup-image /Restorehealth
Run Windows Update again, Error hopefully solved.