Summary from part I: Please read my main page describing the basics of favorite icons. This page is made specifically as an example to show you how you can convert a BMP, JPG, GIF, or PNG file to a favorite icon (favicon.ico). I use IrfanView as a sample program because it is free (for non-commercial use) and is handy to have on your computer for your graphics needs.
D. Decrease the Color Depth to 16.
Save as Windows ICO
Rename the file favicon.ico if you did not save it as that yet.
Then follow the instructions on the main Favorites Icon Guide page to load it on your web site.