#1

Many times there are different file types and there will be a folder for each one. If this is the case, navigate to the folder that contains the PSD file and double-click on it to open it.
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Step 2

When the file opens, you may get several error messages about font problems. Click "OK" until the file opens. If you get this message, go back to the folder where the download is and see if there is a fonts folder. If there is, you will need to take all of the fonts out of the folder and drag them into your system fonts folder. In Windows XP, you could find this folder in C:/WINDOWS/FONTS. If this doesn't work for you, do a search for your folder. Many times when you download free templates they do not include the fonts, and you will have to substitute them with something similar from your own font library.