machineKey - system.web machine.config?

I have generated a machineKey and a validationKey for servers in our web farm.  According to a kb article, Microsoft says to open the machine.config OR the web.config and locate the <system.web> section and replace the machineKey section.

I opened up the machine.config, and in the system.web section towards the bottom, there is no machineKey.  There is ONE line in the machine.config referring to machineKey, but it is not in the system.web section.  This is for my .net 2.0 framework.

Am I supposed to just place my machineKey in my web.config?  The web.config is the same on all servers in the farm - will this work?  Below I have shown you the code from my machine.config's system.web section

<system.web>
    <processModel autoConfig="true"/>
    <httpHandlers/>
    <membership>
      <providers>
        <add name="AspNetSqlMembershipProvider" type="System.Web.Security.SqlMembershipProvider, System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken=hidden" connectionStringName="LocalSqlServer" enablePasswordRetrieval="false" enablePasswordReset="true" requiresQuestionAndAnswer="true" applicationName="/" requiresUniqueEmail="false" passwordFormat="Hashed" maxInvalidPasswordAttempts="5" minRequiredPasswordLength="7" minRequiredNonalphanumericCharacters="1" passwordAttemptWindow="10" passwordStrengthRegularExpression=""/>
      </providers>
    </membership>
    <profile>
      <providers>
        <add name="AspNetSqlProfileProvider" connectionStringName="LocalSqlServer" applicationName="/" type="System.Web.Profile.SqlProfileProvider, System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken=hidden"/>
      </providers>
    </profile>
    <roleManager>
      <providers>
        <add name="AspNetSqlRoleProvider" connectionStringName="LocalSqlServer" applicationName="/" type="System.Web.Security.SqlRoleProvider, System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken=hidden"/>
        <add name="AspNetWindowsTokenRoleProvider" applicationName="/" type="System.Web.Security.WindowsTokenRoleProvider, System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken= hidden"/>
      </providers>
    </roleManager>
  </system.web>

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