You can position the photo and let the text wrap (in line, square, tight, etc., are terms in the choices). You should be able to right click over the photo and get a dialog box for that plus to add a caption. You could also draw a text box, insert your text, and drop it over the photo (put it in front of the photo, or push the photo back) and resize and change the font color for contrast if you need to. For something like this Word is faster and easier than Photoshop if you don't know what you're doing in Photoshop.

SRS