Wonder if anyone here can recommend me free, but powerful designing tool. Maybe you can help by doing a comparison as well.
I guess that all depends on what sort of design you're doing... If you're doing Graphic design, logos, illustration http://www.inkscape.org (its like Adobe Illustrator) If you're doing photography or web-design http://www.gimp.org (it's like Adobe Photoshop) If you're doing multi-page layout http://www.scribus.net (it's like Quark or InDesign) If you're doing 3D modelling http://www.blender3d.org (it's like maya) Thankfully for your budget, all of these above programs are free and open-source, and run on windows, mac and Linux. Once you're learned these programs, you can still use them even if you choose to buy other software (I know I still do daily), and you can use it no matter what computer you're using. Hope this helps!
Never heard of Gimp, but I will definitely give it a try if it is free. Adobe Photoshop is way too expensive for me.
Another vote for GIMP from me. I use it for my web design needs for a few years already. Also there is a forum for all who are interested in learning GIMP over at GIMP Forums.