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Icon Explorer allows completely manage icon libraries (ICL), standalone icons and executable that contains icons as resources. It supports 32bit icons too.

It has powerfull searching tool that searches specified path with directory recursion and examines any file if it contains any icon and then extract it.
Icons can be saved as icons, individual icon images or bitmaps.
It is able to browse and display other image files of many formats:

TIFF images (*.tif; *.tiff)
GFI fax images (*.fax)
SGI images (*.bw, *.rgb, *.rgba, *.sgi)
Truevision images (*.tga; *.vst; *.icb; *.vda; *.win)
Autodesk images files (*.cel; *.pic)
ZSoft Paintbrush images (*.pcx, *.pcc; *.scr)
Kodak Photo-CD images (*.pcd)
Portable pixel/gray map images (*.ppm, *.pgm, *.pbm)
Dr. Halo images (*.cut, *.pal)
CompuServe images (*.gif)
SGI Alias/Wavefront images (*.rla, *.rpf)
Standard Windows bitmap images (*.bmp, *.rle, *.dib)
Standard Windows icons (*.ico)
Windows (Enhanced) metafile images (*.emf, *.wmf)
Photoshop images (*.psd, *.pdd)
Portable network graphic images (*.png)
JPEG images (*.jpg; *jpeg)

Download: Icon Explorer 3.0