How do i resize a photo with loosing to much quality?

Question:

How do i resize a photo with loosing to much quality?

I want to save a photo thats about 800kb to under 40 with it going blurry. i tried saving it for the web with photoshop but only managed to get it to 50kb in .gif. I've seen other peoples images that have more detail than mine but have gotten it down to size with out loosing a noticeable amount of resolutiion

Best Answer - Chosen by Asker: Save for web should have done it OK, without you being here I can't show you.
At such small bytes, you don't want to be using a gif. Need to be Jpeg.
Also, consider downloading (From Microsoft freeware) "Image Resizer". I use it a lot, it becomes an option on right click when you select an image.