Oh. Kay. Your options are really wide open there, given the very general description of what you want to do. The right tool will depend on what you have in mind with those templates.
First, the heavy hitters: desktop publishing. The common ones are InDesign and Quark, and a lightweight contender would be iWork. This type of program is best for setting type and laying out artwork on the page. these programs don't really have artwork creation at the heart, but basic drawing tools are included.
Next up are the vector art programs. Illustrator pretty much owns this category at present, especially if you need output that won't make the printers hate you. It does well with small spans of type, but it doesn't have all the fancy text facilities of the DTP programs. Its vector drawing tools are comprehensive, and it's very easy to place photos or other external artwork. It includes the tools needed to make everything ready for the printer. From what little I can gather from your posts, I think this may be what you want.
Finally there are the bitmap programs, Photoshop and many competitors. PS is somewhat print-friendly (and more than somewhat if you're going to place its output into one of the above-mentioned possibilities), type is not its strong suit but it can do a reasonable job depending on your needs. If your template would end up being some kind of photo or bitmap work itself, simple layering may handle the job. PS gives you a big bag of filters and retouching tools that aren't so easily applied by the other options. On the minus side, your output is pixels, this may or may not give you trouble, depending on just what you're planning to put in these frames.