IF you want online services, here are a few to consider.
99designs.com - in addition to crowdsourcing a design, they have a $99 logo creation service that you pick one of the images in their library & they will change the text to match your needs. I've used the crowdsourcing version successfully before - and I bet a few others in here have as well.
HP has a $49 online logo creation service - logomaker.com - and a more "professional" service (packages start at $299)- logoworks.com
Start with drawing your logo on a piece of paper, scan it, place in Adobe illustrator and trace it with Pen Tool.
http://www.youtube.com/watch?v=5DzpT8POAME Photoshop logos much harder to change, scale and use in the future.
Also let me remind you - avaricious pays twice.
If your company logo looks unprofessional or too cheap (from templates etc.) nobody would take your company serious. After a while you will come to the point of changing your logo and creating whole identity of your company.
It's much better to find freelance designer and make your logo perfect from the beginning.
I've used 99designs.com before too and I've loved it. I actually got my logo and site done there for less than $1k. Just be sure to ask for the right kind of files you need. You can use my brief as an example - http://99designs.com/logo-design/contests/web-logo-linkit-24093/brief.
For some developers (myself included), doing graphics is like teaching a bear to dance - not a good dance, annoys the bear. But if you are a developer who wants to understand web design/graphics and maybe do some of your own, I strongly recommend Brian Hogan's Web Design for Developers. Brian walks through going from typical butt-ugly developer-created site (hey, it works!) to a very attractive, web standards site - with a logo. (hey it works and its attractive enough to be worth money!)
When it comes to creativity, I'd like to discourage you from creating your own logo. LEave it best to the creative minds of professional artists. You'd have to shell out some money but it would be worth it.
How about contacting the students from arts school? I'm sure there must be a few reputed art schools in your vicinity.
You can even contact the principals of these art schools to put your requirements on their notice boards. The interested candidates would get creative to their maximum capacity and you'd be amazed at the variations you can get.
These students would mostly create the logos on art paper, but I don't think it would be difficult to digitize it.
You can pay some amount (pre-declared) to the winning entry. It would be a good gesture for the students to earn as they learn and you get a 'super cool' logo for your company.
Many corporates here in India follow this practice, as we have some very reputed art schools such as Sir J.J. school of arts.
Also, if you use Logoworks you can get $20 off by using this affiliate link - http://www.kqzyfj.com/click-3581919-10390391.