TinyMCE Fiddle

<script type="text/javascript">
tinyMCE.init({
    // General options
    mode : "textareas",
    theme : "advanced",
    plugins : "autolink,lists,spellchecker,pagebreak,style,layer,table,save,advhr,advimage,advlink,emotions,iespell,inlinepopups,insertdatetime,preview,media,searchreplace,print,contextmenu,paste,directionality,fullscreen,noneditable,visualchars,nonbreaking,xhtmlxtras,template,imagemanager,filemanager",
    
    // Theme options
    theme_advanced_buttons1 : "save,newdocument,|,bold,italic,underline,strikethrough,|,justifyleft,justifycenter,justifyright,justifyfull,|,styleselect,formatselect,fontselect,fontsizeselect",
    theme_advanced_buttons2 : "cut,copy,paste,pastetext,pasteword,|,search,replace,|,bullist,numlist,|,outdent,indent,blockquote,|,undo,redo,|,link,unlink,anchor,image,cleanup,help,code,|,insertdate,inserttime,preview,|,forecolor,backcolor",
    theme_advanced_buttons3 : "tablecontrols,|,hr,removeformat,visualaid,|,sub,sup,|,charmap,emotions,iespell,media,advhr,|,print,|,ltr,rtl,|,fullscreen",
    theme_advanced_buttons4 : "insertlayer,moveforward,movebackward,absolute,|,styleprops,spellchecker,|,cite,abbr,acronym,del,ins,attribs,|,visualchars,nonbreaking,template,blockquote,pagebreak,|,insertfile,insertimage",
    theme_advanced_toolbar_location : "top",
    theme_advanced_toolbar_align : "left",
    theme_advanced_statusbar_location : "bottom",
    theme_advanced_resizing : true,
    width: "100%",
    height: "400"
});
</script>

<form method="post" action="dump.php">
    <textarea name="content">
&lt;p&gt;&lt;img class="alignnone size-medium" alt="" src="http://s.wordpress.org/style/images/wp-header-logo.png" /&gt; Welcome&lt;/p&gt;

&lt;p&gt;&lt;img class="alignnone size-medium" alt="" src="http://s.wordpress.org/style/images/wp-header-logo.png" /&gt; Welcome&lt;/p&gt;
</textarea>
</form>