Photoshop is the most popular photo editing software around. It is the industry standard today and is used by professionals and hobbyists alike. It is fully featured and allows for an extensive amount of photo editing jobs to be done.
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Pro Industry standard
Photoshop is used by professionals everywhere. It is taught in classes, used by artists and is even used by medical professionals. If you've seen a magazine ad featuring a model, you've probably seen the effects of Photoshop. You won't be alone when using Photoshop. The internet is full of tutorials and videos on how to use Photoshop. This fact, coupled with the trove of plugins available for Photoshop means you can use it it to make the professional looking or artistic images you need.
Pro Fully featured
Photoshop is the most fully featured image editing software available today allowing you to perform highly advanced image manipulation.
On top of that it offers features beyond the realm of typical image editing software tools such as support for video editing, 3d elements and 3d printing among others.
Pro A cheaper version called Photoshop Elements is available
A stripped down version of Photoshop, called Photoshop Elements can be bought as a standalone application for $100.
Pro Content-aware tools
Photoshop includes content-aware tools such as content-aware fill that can fill in a select area based on what surrounds it.
Pro Reasonable UI
Pro Creative Cloud Photography subscription includes Lightroom
Lightroom is another image editing software from Adobe that's specifically designed for photo editing and managing of large quantities of digital images.
Pro Lots of tutorials
There's a huge number of both free and paid tutorials available online. Websites like Lynda.com offer premium high-quality, in-depth tutorials, but there are plenty of free alternatives to be found on YouTube, blogs and specialized sites on the Internet.
Pro Support for vector shapes
Pro Non-destructive blur
For a high-quality product, the price is high enough to match. With the new Adobe model, all Creative Suite Products are subscription based only. This means that for the complete "Creative Cloud" you are required to buy a year subscription for about 600 USD. In order to use just a single product, its a $20 monthly subscription. The cheapest option would be Photoshop Elements 12 which is a single time payment of less than 100 USD depending on where you look.