I have exactly the same problem after the OS X 10.11.1 upgrade. Can no longer log in to my primary user account. Fortunately I have a Guest account on the login screen that I can log into with no issues. From the Guest account I can open up a Terminal session and look at the diagnostic logs (from the terminal I need to "su - username" to login to my primary account, and then do "cd ~/Library/Logs/DiagnosticReports" and "ls -lt" to view the names of the logs ordered by most recent. Here I see a number of crash reports with time stamps matching the time of my unsuccessful login. They all contain similar content and point to a problem with /usr/libexec/lsd. Not sure what to make of this at the moment but thought I'd post in case other users are observing the same thing.
[Eve.local] more lsd_2015-10-23-071952_Eve.crash
Process: lsd [697]
Path: /usr/libexec/lsd
Identifier: lsd
Version: 728.4
Code Type: X86-64 (Native)
Parent Process: ??? [1]
Responsible: lsd [697]
User ID: 501
Date/Time: 2015-10-23 07:19:51.315 +0400
OS Version: Mac OS X 10.11.1 (15B42)
Report Version: 11
Anonymous UUID: 3BC9B386-5784-71EE-A925-588400691133
Time Awake Since Boot: 690 seconds
System Integrity Protection: enabled
Crashed Thread: 0 Dispatch queue: com.apple.main-thread
Exception Type: EXC_BAD_ACCESS (SIGSEGV)
Exception Codes: KERN_INVALID_ADDRESS at 0x0000000109d33958
Exception Note: EXC_CORPSE_NOTIFY
VM Regions Near 0x109d33958:
Dispatch continuations 0000000108c00000-0000000109c00000 [ 16.0M] rw-/rwx SM=PRV
-->
mapped file 000000010a1df000-000000010baf0000 [ 25.1M] r--/r-x SM=ALI
Thread 0 Crashed:: Dispatch queue: com.apple.main-thread
0 com.apple.LaunchServices 0x0000000102d5ba4d _LSClaimRemove + 327
1 com.apple.LaunchServices 0x0000000102d5a6bc _LSBundleRemove + 277
2 com.apple.LaunchServices 0x0000000102d7a8dc _LSServerItemInfoRegistration + 1905
3 com.apple.LaunchServices 0x0000000102d76d0e _LSDispatchRegistration(LSContext*, char const*, LSRegistrationInfo*, __CFData const*, __CFData const*, __CFData const*, __CFURL const*, __CFDictionary const*, unsigned int*, __CFArray**, unsigned char*) + 212
4 com.apple.LaunchServices 0x0000000102d072f1 _LSRegisterDirectoryNode(LSContext*, FSNode*, FSNode*, LSRegistrationInfo*, __CFData const*, __CFDictionary const*, __CFArray**, unsigned char*, unsigned int*) + 86
5 com.apple.LaunchServices 0x0000000102d07040 _LSRegisterBundleNode(LSContext*, unsigned int, FSNode*, FSNode*, unsigned int, __CFDictionary const*, __CFArray**, unsigned char*, unsigned int*) + 863
6 com.apple.LaunchServices 0x0000000102cd5749 _LSFindOrRegisterBundleNode + 912
7 com.apple.LaunchServices 0x0000000102d5fa06 _LSDatabaseClean(LSDatabase*) + 456
8 com.apple.LaunchServices 0x0000000102d5f2bd _LSDatabaseCreateFromPersistentStore + 225
9 com.apple.LaunchServices 0x0000000102d3d935 -[LSDatabaseBuilder createAndSeedLocalDatabase:] + 53
10 com.apple.LaunchServices 0x0000000102d0a409 -[LSServerDelegate beginListening] + 172
11 com.apple.LaunchServices 0x0000000102d0c056 _LSServerMain + 175
12 libdyld.dylib 0x0000000103ccd5ad start + 1