Picnik - a handy web-based photo editor
Adobe is planning to release a simpler version of Photoshop, which will be a web-based graphics editor.
If you need a graphic editor today – for example to edit photos in an internet cafe on holiday, then Picnik (still in beta testing at the moment; requires Flash 9.0) offers a similar editor:

You can crop, correct colours, sharpen images, correct the exposure or tilted horizons and resize the image before saving it in several different formats (including JPG, GIF, TIFF and PDF), which gives you the main functions you might need. It integrates with Flickr, which is handy if you already use Flickr for your photo album. The picture above was prepared completely in Picnik, by the way.