Photoshop is Adobe's professional photographer/graphic designer-level image editor. It can do everything that Elements can, of course, plus more. Much, more. In fact, Photoshop stops just short of brewing and serving you a latte.
Photoshop has more tools and commands for selecting, color correction, and retouching. The program also includes ImageReady, which is Adobe's Web graphics program. With ImageReady, you can easily construct animations, slices, rollovers, and image maps. All this power comes with a price, however. Not just the price tag, but also the learning curve.
Elements gives you a palette with Hints and Recipes (instructions to perform certain techniques), but Photoshop leaves you to your own devices. This program isn't for a once-a-month hobbyist.
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