For whatever reason, Photoshop, unlike some less expensive tools (although, come on, did you actually pay for Photoshop?) doesn't have a tool that automatically removes red eye. This pissed me off to no end, but I figured out how to do it, with some trial and error, and by asking people who use Photoshop.

• Select the red part of the eyes. I like to use Magic Wand, but I'm told you can do a Quick Mask, too.
• Feather the selection depending on how big the image is. If you've got a megapixel-sized portrait, may I suggest about a five pixel feather.
• Bring up the Hue/Saturation modification dialog. (Ctrl+U)
• Drop Saturation down to zero.

And that's about it. The hardest part is getting the initial selection right to make sure you get all the red out.