A great program for processing RAW images is Adobe Lightroom. The beauty of the program is it allows you to make all the changes of a RAW convertor, except that it doesn't touch the original file. It saves the changes as instructions, so when you view the image it knows what to display back to you. But none of the changes are permanent or file altering, until you export the file. Even then, the RAW file remains untouched, the program just creates a new copy of the image in whatever file format you chose to export as (jpg, tiff, psd, etc.).
It also integrates well with Photoshop, allowing you to open the image in photoshop, make your detailed edits there, then when you save it saves back into lightroom for catalouging the pictures.
To top it all off, it is a great tool for organizing and catalouging your pics... lot's of options for sorting and ranking pictures and applying keywording.
Now, it does depend on the type of editing you're looking at doing. Lightroom is capable of a lot, it makes a great RAW convertor, and you can change a lot of the basic things such as white balance, exposure, levels, etc. What it can't really do is pixel level editing, which is where photoshop (or some other editing program) comes in.
Myself, I'm currently using Lightroom for almost all of my editing and conversions. If I need to do further work, I have Photoshop Elements, which is a fairly capable program too.
Hope this info helps.... if you want any clarification of anything, just ask.