I am creating an image Album. For this I have created one content type with "Album Title"(title), "Album Description"(body) and Image field which can take unlimited number of images. Now I want to add a title and description to each image. Please help me to short it out.
Using the Media module, you can add fields to images, such as description or caption. https://drupal.org/project/media
Alternatively, you could use the Field collection module to create a 'Gallery image' field type, which has the extra fields that you need.
In addition to what Bala said, you can use the image field caption module
Adds an extra text area for captions on image fields.
Similar to the alt and title text fields available with an image field, the caption text area can be used to enter text or html descriptions of an image.
In case you need to style the caption, copy the image_field_caption.tpl.php file and place it in your theme's directory
If you didn't find the solution for the problem you are facing by now, this is how I did it. Within your Content type element that you created, say GALLERY, in the manage fields section add another field and call it "image_title". Within the manage display section of the same, make it visible and in line with the image you are using as your gallery element. Save your work.
Once you create a new Gallery content you will need to add the title of each image youa re adding to it. After that titles of the images should be visible in your colorbox galery. That was the thing that you were missing?
I hope this helps.