Why use ICO over PNG?

This question is often discussed on designers and webmasters boards. Almost all modern browsers support .png as a favicon, but it is still highly recommended to use the .ico file to avoid 404 server errors. The favicon.ico file is always requested and if the browser can't find it on your site, your hosting receives 404 server error and has to log this message to the log file. This can slow your performance a bit.

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How to Convert PNG to ICO file

Faviconer.com is online generator which helps you to convert png file to ico and it's 100% free.

Convert .PNG to .ICO

.PNG image, stands for Portable Network Graphics, is a file format to store compressed pictures, without losing quality, even during editing. PNG was invented for Internet purposes and can be used for 24 bit pictures, however this file format can't be used to replace .GIF (with animation support), .JPEG or .ICO. Each of these formats have their own purposes and should be used accordingly. This means that you have to convert image from .png to .ico before using image as Favorite icon for your site.