ya like pwnz0r said, it's easy.
Mayi, about placing water mark, the postion is an issue. I have
seen alot of site placing a water at top/bottom/corners. ppl can
cut it away. Those site that really want their site name to be
seen, they place a half transparent water mark in "important area"
eg. if it's a pic of a pretty girl, place near her face. If it's
pic of a car, place on the car.
For stopping users from saving it. Then u go by "ways to save a
pic" first, then u find scripts or others way to disable those ways
of saving pic.
mouse over saving, right click "save picture as", view html source
code to find the path of pic and paste path in IE URL bar,
printscreen+crop saving, etc.