Start with opening your image. I want to apply my text on a button. Have black as your foreground colour and select the type tool. Then apply the text you want.
	Then right-click the text-layer an choose duplicate layer and click ok. Dobbel-click the copied layer and change the colour from black to white. Click on the Move Tool, and then offset the white text one pixel down, and one pixel to the rigth with the arrow keys. (One click on the arrow keys = 1 pixel in the chosen direction). Now change the layer mode from Normal to Soft Ligth and Voila - your finished!