The difference is almost zero because a picture is painted, an image can be moulded, a photo is taken by a camera but all portray something.
A photograph (often shortened to photo) is an image created by light falling on a light-sensitive surface, usually photographic film or an electronic imager such as a CCD or a CMOS chip.
An image (from Latin: imago) is an artifact, for example a two-dimensional picture, that has a similar appearance to some subject—usually a physical object or a person.
A picture, also called an image, is a group of colored points on a flat surface that looks the same as something else. For example, a picture can look the same as an object or a person. Pictures can also be drawings, paintings or photographs. People who make such pictures are called artists, photographers or painters. Pictures are very helpful. Sometimes people say pictures are worth a thousand words.
You take a picture, but when its developed/printed out it becomes an image. Picture is more of an everyday word, whereas image is used in media applications, but has found its way into everyday language.
Well a painting you have to paint with a paintbrush and paint. Also most paintings are painted on canvas. On the other hand, a drawing you draw with colored pencils or most other art utensils.