A free plug-in that adds icon files to the save format of Photoshop

This turns Photoshop into the most powerful icon creation tool on earth.

Telegraphics - Free plugins for Photoshop & Illustrator...and other software
http://www.telegraphics.com.au/sw/product/ICOFormat

Create a favicon for your web site with this free Photoshop plugin
http://www.telegraphics.com.au/sw/icoformat.en.html

Although it is a free plug-in, it says, 'If you like it, please donate $5.'

As expected, the functions are poor compared to the same kind of shareware, but it should be enough if you want to output in icon format for the time being.