The link is:
http://www.netmechanic.com/cobrands/zd_dev/accelerate.htm
Yes, you can do this in most any graphics program but the problem I have always had with using software is that it is often hard for me to tell how much quality has been lost at a specific compression level.
On the site above, you put the internet address of the photo you want to compress in the input box and then click Optimize. (Note: choosing JPEG Only will greatly help in reducing image size for other types of images such as gifs.) The page that appears will give you a bunch of compressed images on the screen.
Then, through the evil magic of javascript, when you put your cursor over the compressed image, the regular image toggles in its place. What this means is that you can toggle back and forth between the original and each compressed image to see how much you are losing in quality by just running your mouse over the image.
By going back and forth quickly, you can easily tell which very small patches of the image are changing and how much quality loss you are experiencing do to the compression. I find it really helps in getting a nice picture that will be much easier for people to download. It also tells you next to each picture the compression level and what the new file size would be.
After you decide which image you want to use, you can click on that image and a new page will open up. You can save that image to your hard drive (typically by right clicking on the image and saving it). You can then replace your old bloated image with the new slimmer, sleeker image. Note: It is always a good idea to keep a copy of the original uncompressed image for backup purposes.
For the grading challenge a week or so ago, it took two images (each in the 600x600 pixel range) at 450k total size and got them down to 115k total size with no loss of quality apparent on the screen.
I could even go a little further if I was willing to lose a little bit of quality for something like the pictures in the museum. I could easily get them under 100k total and still have good looking pictures.
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