Everyone wants know how this or that is done so i'll post a selection of tutorials from other sites that show you how a lot of effects are created.
It's sometimes hard to figure out stuff yourself so these tutorials are a great help, but please be creative and add your own touch - that is what impresses people not just straight copies.
use these as a way to learn new techinques, then go improve on them
N.B. i do not offer any support for these tutorials. if you cannot follow the instructions please don't ask me help.
Adobe Photoshop
( 6.0 + unless stated but I expect most to work with 5 or prevous versions )
A cool outline effect
Pixel Cloud / kinda icy effect
Chrome / Gold
Stone
Rust
Fire
Glass
Metal
Another outline
Plastic
Antique Gold
Bevaling Text
Broken Text
Concrete Text
Cubic / Pixelated
Stroke / outline
Elevated Text
Eroded Text
Fire
Glass
Hot Text
Ice
Intergrate your text with the image - *this is good
Jagged Gold
Jagged Text
Linked Letters
Mercury
Metal Gradients / Metal
Molten Gold
Motion Text - With Sparkles
Neon
Outlines
Engraving
Chipped Text
Dripping Slime
Plastic *good
Rounding your text
Punched / Cut out *good
Reflecting Chrome
Rocky
Type on a pipe 
Speed Type *good
Text ona curve
Wild Chrome
Wobbly Text