Use the magic wand to select the area in the center of the frame and make a mask with which to clip the woman's picture. Add the texture behind the frame, and use the magic wand to select and delete the frame's background.

Isolate "Sunset", use it as a mask to clip the sunset image, apply levels/saturation to sunset, add drop shadow to letters,
add black-to-transparent gradient as part of the clipping group

Create 3 circles and use them as masks to clip the 3 images, apply drop shadows to circles, apply gradient to background

Use clipping masks to help you arrange the images in the appropriate areas of the web template.