What should I have in the Honors/Awards Section of the College Application?

You can list 5 awards or honors (at least in the CommonApp), although I don't think CollegeVine has a place to input them when simulating chance of admission. As for the National Honor Society, it depends on how much involvement you had. If you merely held the title of leadership without much involvement, I'd put it under honors, but if you were very active, it may be best to put it with your ECs. If you are running out of room, however, then you can absolutely put it under the "awards" category, and I don't think it'll make a difference.

Also, yes, I'd say these honors are a great addition to your app. But if you're still worried about it, don't be. Awards are just one part of your application, and a very small one at that, so many schools, including T40s, don't really penalize you if you happen to have less awards than someone else. I've even seen people with no academic awards get into Ivies and top 10 colleges. I hope this helped a bit and best of luck to you!