A character style includes character formatting attributes, and can be applied to characters, a paragraph, even or range of paragraphs. You can create Character styles and then apply them later.
Choose Window > Character Styles to open the Character Styles panel.
- To apply a character style, select the text or text layer and click a character style.
Type styles are hierarchical: Manual overrides supersede any applied character styles, which in turn replace applied paragraph styles. This hierarchical approach lets you combine the efficiency of styles with the flexibility to customize your designs.
For a video overview, see Paragraph and Character Styles in Photoshop CS6 by Julieanne Kost.