Photomatix Pro merges photographs taken at varying exposure levels into a single HDR image that reveals both highlight and shadow details, with options for automatically aligning hand-held photographs, removing ghosts, and reducing noise and chromatic aberrations. Merged images can then be adjusted by a range of options and settings to get the look that users want -- from natural-looking results using exposure fusion to painterly, surreal or ultra-realistic images using the tone mapping mode.

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A free trial is available. The trial is fully functional and never expires, but adds a watermark to images produced with the most popular methods.
WHAT'S NEW
Version 5.0.3:
Bug fixed: When Nikon D610 RAW files were loaded, resulting image had red lines on the border. Bug had been introduced in v5.0.2.
Bug fixed: When dragging image files to the Photomatix Pro icon while Photomatix Pro had not yet been opened, the "Merge to HDR Options" dialog showed behind the background window.
Bug fixed: Moving sliders of the Finishing Touch dialog did not refresh the image until slider was released, even though the "refresh continuously as slider moves" option was set in Preferences.
Bug fixed: Sony RAW files with the SRW file extension could not be loaded from the Open Panel to load a single photo.
REQUIREMENTS
Intel/PPC, OS X 10.4 or later