I'm not an expert about this. I think it would be ok. Also depends where you host your page and your target country. It's not the same if you host your page in a shared a hosting that if you do it in VPS. But again I don't have much idea about landing pages weights.
In Photoshop go to File and instead of Save your image the traditional way, there´s an option called "Save for web"
There you have to select your image format(if it's a static image choose Jpg or Png, if it's an image with movement choose Gif). Then you have to play a little with the options...
If by caching images you mean reduce its size you can do it with Photoshop or any software like this . If you don´t have Photoshop you can try this: Photo Editing and Effects | Autodesk Pixlr . It's free and online. Sure works almost the same way
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