1. Open a photo
First get a stock photo, i've got a stock of some neat looking fruit ( from here )
Open the fruit picture and resize it to a much smaller size ( I've used 28% of the original size )
2. Duplicate layer
Duplicate the Background Layer and make a selection consuming the whole width but only about 40% of the height
Now apply Filter > Blur > Gaussion Blur with a radius of 5.0
3. Details
Create a new layer and fill the same selection with a light color ( #E9E7E3 )
Now lower the Layer Fill to 15%
Apply Filter > Blur > Gaussion Blur with a radius of 0.5 on the "Light Glass Layer"
Now apply these layer styles:
Outer Glow:
Stroke:
Finished:
Variation with the Glass Filter: