Hi,
I suppose you are worried about the user being able to save the image?
Have a look at a simultanuous thread about that problem:
http://www.phpbuilder.com/board/showthread.php?threadid=10245988
Bascially: Nope. The src="" is the location. BUT you CAN have a link like the one you mentioned. The page you link to gerenates the image, and outputs an image stream.
If in the coding of page:'image.php' you then check for certain specific elements (registered session variables, login vars etcetc) then people cannot directly link to that image from other websites. They can only get the images through your pages.
Hope that helps.
J.