The best option is to use a combination of Photoshop (for image editing) and Illustrator for vector. Place the image(s) into Illustrator as either linked or embedded files, and create the rest in Illustrator.
You can actually just use Photoshop. Its not a SIMPLE photo editor, its a very advanced one.... but you can learn slowly to use Camera Raw for editing. And then you can add text easily with the Text tool. All text in Photoshop is Vector based .... and you can import vector files, or files from Illustrator, or you can even use the various shapes tool to create rectangles, ellipses, polygons, stars, and custom shapes (all vector).
Or you could also use Adobe Lightroom, great for cataloging, rating and improving your images, definitely not as advanced as Photoshop, but it might be a useful tool. Then you can always open photos in Lightroom in Photoshop to add text, or composite images.
Let me know if you need any help.
headTrix, Inc. | Adobe Certified Training & Consulting Consulting | Design | Development | Training