How to hide the text in the picture using the least significant bit ?
It looks like you're not sure what you're asking. Perhaps go and research the general idea of steganography.
Short answer: don't. Slightly longer answer: it's a very inefficient form of steganography, it won't work for JPEG images, and for GIF/PNG it'll basically make your image uncompressable.
If you need stega for anything else but curiosity or school assignments, research existing offerings.
The technique you're thinking of is called Steganography. Here's a good post which explains the technique. http://www.dreamincode.net/forums/topic/27950-steganography/
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