Is there any free tool available for creating and editing PNG Images?
A PNG is meant to be a high quality file that loses resolution only when it's time to edit it. Unfortunately, in order to edit it extensively, it needs to be converted into a more manageable file type. There are a lot of extensions that allow for further editing but Illustrator is a lot more complex.
Providing the image you have created / have been working on is transparent in the first place, using the "Resize" or "Resample" tools in any major image editing package (e.g. PhotoShop, PaintShop Pro and so on) should not affect (or lose) the transparency at all.
Paint.NET will create and edit PNGs with gusto. It's an excellent program in many respects. It's free as in beer and speech.
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