Go to control panel > internet options > advanced tab and scroll down to multimedia. Make sure there's a check mark in "show pictures". If that is already checked, you might have some ad blocking software that's preventing the pictures from showing. Also in the multimedia section is an option to "enable automatic picture resizing". That's typically checked as the default setting so try unchecking it to see if pictures appear.
If the problem is only on some websites that's usually an indication of a website design issue (nothing you can do about that unless you designed the site.) This article gives some additional info:
The red X may indicate that your Java applets are not loading where the images should be. Here is an article from Java that describes the problem and the solution. This particular article is slightly older, and refers to IE6, but it describes the problem well, and once you've diagnosed the problem on your system, you can check for the most recent solution: " Red X image displayed where the applet should be, applets won't run": http://www.java.com/en/download/help/redximage.xml (You can find a plethora of additional help on Google if you research the key words in quotes.)
My Computer
Computer Manufacturer/Model Number
HP Pavillion dv5t (generation 1)
OS
Vista 64 bit and 32 bit (SP2)
CPU
Intel(R) Core(TM)2 Duo Processor T9400 (2.53 GHz
Memory
4GB DDR2 System Memory (2 Dimm)
Graphics Card(s)
512 MB NVIDIA GeForce 9600M GT
Monitor(s) Displays
15.4" diagonal WSXGA+ High-Definition HP BrightView Widescre
Screen Resolution
1680 x 1050
Hard Drives
320GB 5400RPM SATA Hard Drive with HP ProtectSmart Hard Drive Protection
Keyboard
Built-in HP
Mouse
Built in - Synaptics TouchPad V6.5 on PS/2 Port
Internet Speed
Max
Other Info
~ Intel Next-Gen Wireless-N Mini-card w/Bluetooth ~ Blu-Ray ROM DVD+/-R/RW ~ Integ. HDTV Hybrid Tuner ~ 12 Cell Battery ~ MS Office (Home Premium) 2007 ~