ZyWeb is my first choice, for making logo's and headings, although I use cooltext almost as much. Zy's strength is it's deep 3D multi-colored headings...it also offers spinning headings...It's font selections are slightly above average, but it's color selections are limited. ZyWeb is free, but you have to sign up, and get a password.
Newbies tell me ZyWeb is confusing and hard to navigate at first, so i'll take you through the graphic making steps.

After you sign up and log on, click on file store...this is where your finished images are stored...that is if you want to save them...no need to do so, as you'll be uploading or transloading them to your site......Everything you do starts from here. click on "graphic",next page if your making a logo or heading click on "graphic headings" or "spinning text"...next page choose the heading style you want. this will take you to the graphic editor, where you will make your graphic....This is self-explanatory, but two points....use the color spectrum, instead of the charts...it will give you a better idea, of the color you're gonna get....and if you don't like the font, go to the bottom of the page to the font list...
After you make the graphic, click on "graphic details" and there's your graphic, ready to transload.









C ooltext is free and you don't have to sign up. Cool's strengths are it's neon, metal and nova selections, it's great font selections, and it's ease of use...It's only drawback is you can't make your creations transparent.









Media Builders strengths are its 3D and banner selections, and its moving graphics. You can make your creations zoom in, slide, rotate, flip, etc. Although the color selection isn't great, the colors are vivid and clearly defined on the chart.









Custom Button Factory is the premiere button site on the web. Beautiful blank link buttons. Huge selection. Very impressive site. You can make a link button, in under a minute.