1. Let’s first open a picture in PS:
2. Press Ctrl+A to select the entire picture; click "Select - Transform Selection" in the menu. After selecting, change the values of W and H in the option bar above the picture from 100% to 92%, and then click on the right check mark to confirm.
3. After confirmation, we can use "Edit - Stroke" in the menu to draw the border:
The settings are as follows:
4. Press the Shift+Ctrl+I keys to invert the selection, that is, select the part outside the white line frame. Finally, make the outer circle darker and execute "Image"->"Adjustment"->"Brightness/Contrast". Then just follow the settings below
Final effect: