Ohhh Dear.. There are already so many thread which is addressing the same information what are you looking for.
By the way for logo designing I prefer CorelDraw and sometimes Adobe Illustrator.
You can get the advantage of normal paint tool, Dreamweaver, Illustrator, move tool, magic tool etc.
Even there is online tool available like online logo maker tool.
The best is the one from those, that the logo designer knows best to use and handle.....
For me, photoshop is the best....
Adobe Photoshop is best software for logo design.There are so many tools in it . It is very friendly and easy to access.
I think Photoshop is the only program in the game that is worth truely inveseting in. I think once you go beyond the spectrum and start using lower grade programs you will find it's harder to achieve the distinction of design that you would want. It's alos the spectrum of understanding when you really look into other programs but you don't understand the capabilities of the programs.
So far I my favorite would have to be Photoshop only because that's what I am used to using. A great alternative is GIMP, its free to use and has a lot of features to use.