On this very extensive video tutorial photographer Nathaniel Dodson (from the website tutvid) gives no less than five different ways to blend text into images in Photoshop.
This is a really long and extensive video (over 30 min) so Dodson was kind enough to create a list of the subjects he covers in the video:
00:43 – Weave text effect
07:25 – Blended text effect
12:55 – Inverted color type effect
18:03 – Textured text effect
28:44 – In front/behind text effect
You can also check out his full written tutorial on his blog.
Even if you are not going to use any of these techniques in full – there are tons of smaller tips and tricks that Dodson shows during this tutorial which makes this a watch worthy video.
If you are looking for the “exact opposite” of what is show in this video – i.e. how you can use a photo to create cool looking text using Adobe Photoshop check out Aaron Nace’s video here.