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Start
with opening your image. I want to apply my text on a button.
Have black as your foreground color 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 color 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!