Photoshop is the De facto standard for graphic editor among professional designers. Still no product available in the market which has all the functionalities Photoshop has..
But still there is a comparable product which is available for free.. GIMP
Its an open source image manipulation program.. It has most of the features which a professional graphic designer need.
I talked to some graphic designers and gathered their response about GIMP... Many of them prefer Photoshop.. But some of them are ready to give a try for GIMP .. and now using GIMP for small graphic works..
If you are not a professional designer, I recommend GIMP for your small graphic works than going for a highly priced Photoshop..
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