The RedKetchup - Icon Converter allows you to convert an image into a compatible Windows icon online. It can also customize the icon background with a color or adjust its rounded corners. Finally, it can configure the image format and the color depth used internally by ICO files.
IcoFX - IcoFX is an all-in-one solution for icon creation, extraction and editing.
Online Image Converter - Online Image Converter converts your BMP, JPG, PNG, GIF or ICO files quickly and easily.
IconsExtract - Extract icons and cursors stored in EXE, DLL, OCX, CPL files
Online Favicon Generator & Gallery - Online favicon generator & creator provides to convert image GIF, JPEG, PNG and download in favicon.ico format 16x16 or 32x32 pixels or HTML code. This website also has a fantastic favicon gallery with download.
JDraw - Open Source SF.net
RealFaviconGenerator.net - Favicon generator for the mobile era.