Cooltext is an excellent resource for generating free logos for your website if you are not a Photoshop expert.
The best thing about Cooltext is that even if you don’t have the particular font installed it will display you the font image and you can select from over 1200 fonts of your choice.
Apart from font you have an option to select the pattern, text color and size and the background color for your logo supporting png transparencies too.
Yeh this is nice for anyone not familiar with photoshop and looking for a quick fix.