I'm looking for an online solution for generating .ICO files. I'd like the ICO files to have the ability to have transparency as well.
What software or web site do you use to create them?
[Update]
To clarify, I have an existing image in PNG format, 32 x 32 pixels. I want to generate the icon from this existing file, not create a brand new one online. Sorry for the confusion.
I have found the application IcoFx useful, you can import pretty much any image type to use for icon creation, including PNG's.