Photoshop 5 palettes include the Navigator, Info, Color, Swatches, Brushes, Actions, Layers, Channels, and Paths palette. Floating palettes work just like mini windows. You can drag them around and put them anywhere you want on the desktop. You can resize a palette by dragging on the Size Box in the lower right corner of the palette. You can close a palette by clicking on the Close Box at the top left corner.
Palettes can exist individually or they can be nested together.
When palettes are nested, just click on the Panel Tab to access a certain palette. To nest a palette, grab the Panel Tab and drag it to its new palette group, or drop it on the desktop to create a single palette. Each palette has a Palette Menu of options. To display a palette's menu, click and hold on the triangle in the top right corner of a palette and a pop-up menu will appear. To temporarily hide all of the palettes, press the Shift and Tab keys.