IcoFX - IcoFX is an all-in-one solution for icon creation, extraction and editing.
Favicon Generator by RedKetchup - Customize the favicon text, colors, font, and corners. Generate the favicon images in all the required sizes. Get the favicon HTML code for all browsers and platforms.
IconWorkshop - Application to create and manage software icons. A must for developers.
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.
IconLover - Icon editor for Windows.
Dynamic Drive - Favicon Generator - Use this online tool to easily create a favorites icon (favicon) for your site.