Create a molten planet
This one’s a long tutorial but its easy and results are guaranteed. Makes a molten planet.
Step 1: Create a new document: 800×800, white background. Then, create a new layer (Ctrl+J)
Step 2: Take your Elliptical Marquee Tool. While holding down shift, create a circle almost the size of your document.
Step 4: Fill the circle with black (Shift + F5). 
Step 5: Then go to Filter > Render > Difference Clouds. Then Press Ctrl+F three to four more times to reapply the filter.
Step 6: Go to Image > Adjustments > Levels and follow up on the settings shown (somewhat).

Step 7: Then go to Filter > Sharpen > Unsharp Mask and give the settings of:
Amount: 475%
Radius: 3
Threshold: 14
Step 8: Then apply the Spherize filter (Filter > Distort > Spherize) with an amount of 100% and then again with an amount of 50%.
Step 9: Open up your Colour Balance dialog box by pressing Ctrl+B or Image > Adjustments > Colour Balance. Give the following settings for each of the items:
Apply the following color levels:
Shadows: [+100] [0] [-100]
Midtones: [+100] [0] [-100]
Highlights: [+70] [0] [-15]
Step 10: Use the Unsharp Mask Filter again only this time set the amount to about 300% and Threshold to 15. (Filter > Sharpen > Unshark Mask)
Step 11: Now create a new document of a size 1024×768. Fill it with Black.
Step 12: Go to Filter > Noise > Add Noise. Give the following Settings:
Amount: 4.9 (More amount means more stars)
Distribution: Gaussian
Monochromatic: Checked.
Step 13: Duplicate the Layer and set the Blending mode to Overlay.
Step 14: Select your Background Layer again and go to Image > Adjustments > Brighness/Contrast. Increase your contrast so that the stars are visible.
Step 15: Now, go back to the burning planet document. Ctrl+Click on Layer 1 to select the planet and then Ctrl+C to copy it to clipboard.
Step 16: Switch to the stars window and paste the planet there. Make sure the planet is on top of the other two layers.

Step 17: Apply the following Blending Options (Layer > Layer Style > Blending Options).


Step 18: If you find the edges of the planet a big jagged, use the Blur Tool (R) to blur out the edges.
Here is my Final:

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