Apache Performance Issue, server reached MaxClients

Issue

• Apache is presenting a system Performance Issue where All the connections are consumed.
• Connection pile up at webserver
• The Apache httpd server is running out of MaxClients very quickly and following message can be seen in the Apache Logs.

  [error] server reached MaxClients setting, consider raising the MaxClients setting
  [error] server is within MinSpareThreads of MaxClients, consider raising the MaxClients setting

• Server responding very slow and getting the above defined error.