Click for larger view!

• Used Images:
• Heart
• Drops
• Drop
• Water splash 1
• Water splash 2
• Bokeh

• Create a new document in Adobe Photoshop 1600*1800 px.
• Apply Color a d Gradient Overlay effect to the first layer.
• Use the following settings:

• Insert Bokeh pattern, apply Soft Light Blending Mode to it.

• Insert Heart image.
• Make it lighter. Go to Image > Adjustments > Levels.

• You should get something like that:

• Apply Multiply Blending Mode to created layer.

• Insert liquid image.
• Load selection to heart, Go to
  • Select > Modify > Contract (10px).
  • Select > Inverse Selection.
• Cut out selected area

• Apply Color and Gradient Overlay effects to the liquid layer.

• Insert Heart image again.
• Play with levels settings and make heart very dark, but with a few white spots.

• Place this layer above liquid image, apply Screen Blending Mode effect.

• Load selection for heart, contract it with 10 px.
• Create a new layer, fill selected area in a new layer with any color, Fill=0%.
• Go to Layer Style effects.

• Apply Inner Shadow effect, just like in the example below.

• Insert water splash image.
• Make it black & white. Image > Adjustments > Black & White.
• Apply Auto Contrast.

• Add layer Mask to this layer.
• Erase some areas using round soft brush.

• 
  

• Duplicate water layer.
• Make it dark, just like in the previous example with glass heart.

• Apply Screen Blending Mode effect to created dark image.

• Duplicate all heart layers.
• Merge them.
• Apply Flip Vertical Transformation. Edit > Transform > Flip Vertical.
• Move this layer down.
• Apply Soft Light Blending Mode and Opacity 75%.

• Go to Filter > Distort > Wave.

• Apply the following adjustments.

• Add layer mask to reflection layer.
• Fill it with linear black & white gradient, just like on the screen shot.

• Insert water drop image.
• Apply Overlay Blending Mode to it.

• Duplicate layer, make it dark and apply Screen Blending Mode to it.

• Draw light spot.

• Insert another water splash image.

• Separate bottom part from background. Use Layer Mask and round brush.

• Cut top part of water drops and paste it into a new layer.
• Choose Overlay Blending Mode for bottom part of drops.

• Apply Warp Transformation to the top part, it should repeat the form of glass heart.

• Cut out heart area of the water drops.

• Duplicate water layer, make in dark and apply Screen Blending Mode.

• You may use Edwardian Script font for text.
• Apply Soft Light Blending Mode for text layer.

• Duplicate central word.

• Apply layer style effects to it just like on the examples below.

You may get .psd* file of "Happy Valentine's day card." Photoshop tutorial by making a donation. Put the tutorial title in "Add special instructions to seller" line of PayPal and it will be sent to you shortly.

• Merge all layers.

• Go to Filter > Distort > Lens Correction.
• Apply Darken Vignette.

And here is result. Click for larger view!

Source : http://alfoart.com