I’ve been a print and web designer fir sixteen years now. Here’s what I use.
Photoshop
image editing, compositing and creation as well as web site mock-ups
Illustrator
aside from the obvious vector art creation and editing, I specifically use it to create .png or .gif web graphics with transparent areas
Dreamweaver
web site creation and editing. I also use it (in conjunction with Safari) to create HTML eMails
InDesign
for multi-page document design
Note: I’m not a fan of Flash content, so I rarely use Flash. I’ve even used Apple’s Keynote for some basic Flash content
ALSO: Inexpensive Apple Software
iPhoto
for image organization
Aperture
photo editing beyond Photoshop
Garage Band
podcast creation
Fir the Adobe stuff, go to journeyed.com for drastically discounted student versions of the CS4 Suite. Works exactly the same as the full versions, just with a disclaimer at the beginning.
someday, when you’re making real money at design, go out and buy the full versions