For those of you that don’t already know PanosFX’s website, it’s a site that offers some of the best photoshop actions that you can find for free. Some of the free actions include a 35mm filmstrip effect, a puzzle effect and various other effects.
Panos has recently released a new action that:
will make your photos look as if they were painted long ago on a wall; time has left its marks on the wall’s surface making it look cracked. Part of the painting has been peeled off
Below you can see an example of what this action does.

Check out PanosFX site
Via Creative Guy
There is no any installation instruction about how to install Cracked Wall Painting with the downloaded zip. It is not working with my PShop 7 as I had put it in the plugin folder.
simi
To instal you simply have to put it in your Photoshop Actions folder. This folder for Photoshop 7 is located by default at
C:\Program Files\Adobe\Photoshop 7.0\Presets\Photoshop Actions
It should work fine with Photoshop 7