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If you haven't been using Photoshop for very long, you may not realize that it's got some pretty powerful text formatting capabilities. They're just a little bit buried at the beginning here. So, I'm going to get my Text tool. I'm going to click into this particular text layer and it's two lines of text here. So, I may want to change the space between lines. It's called leading. I may have other attributes that I want to change. But you'll notice up here in the Options Bar, I have only got a very limited set of text attributes, Font Style, Size, Alignment and whatnot. There actually is quite a bit more. There is this little button here, if you click that, that will open up the Character in Paragraph panels where you have all sorts of additional attributes to format your text.
Clicking this button's a toggle, to open and close that. Of course these two panels, the Character panel and the Paragraph panel, have their own keyboard shortcuts as well. The keyboard shortcuts though only work when you are clicked in a text layer with a blinking cursor here like so. Once you have that, Command+T or Ctrl+T will open up the Character panel. Command+M or Ctrl+M will open up the Paragraph panel. So, the Paragraph panel of course is where you can do things like first-line indent, right and left indent, space before and after, if you've got multiple paragraphs and so forth.
Under the Character panel you have things like leading, tracking and kerning as well as some superscript, subscript and baseline shifting, things like that. The keyboard shortcuts are toggles as well. So if Command+T, Character is already open, Command+T will close it again. So, it's a way to toggle these on and off as long as you have your cursor inside text. If you just have your Text tool and don't actually have a cursor, well Command+T brings up Free Transform. So it's important to understand the different context there Once you have a blinking cursor, you have these keyboard shortcuts. If you are not a keyboard shortcut freak, well, you can always click that panel. But you know me. I dream in keyboard shortcuts.
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