Presently, I use JPEG and GIF for compressing my graphics. Is there a better way to compress graphics (free) without losing picture quality. I am trying to optimize my graphics on my site for better and faster loading. - Thank You falcon
I don't think you'll find a compression any smaller than GIF/JPEG that is also compatible with web browsers. If you have a fairly standard webpage with just JPEG/GIFs (Not with Flash widgets spammed everywhere like some sites do ) then chances are you need a better host (If it is slow for everyone) or a better internet connection (If it's just slow for you).
Take a look at either IrfanView and / or XnView, both provide tools for you to reduce down the file size without loss.