The most commonly used tool is called GParted (Which I think stands for GNU Partition Editor). This tool is included in most liveCD installations. I have used it on several occasions to resize and manipulate the partitions of a Windows system. As of yet, I have not had any problems. A couple of things:
1 - If you are concerned about loosing your data, perform a backup.
2 - Backup your Windows registry for extra precautions as this will impact programs you have installed.
One *important* suggestion is to make ONE change to the NTFS file system and then reboot into Windows and let it run it's integrity checks. Then make the next change and repeat the reboot into Windows. I forget where I read this or why it is important, but I understand it to be one of the keys to safely making these types of alterations.
If you are REALLY concerned about loss of data, get a second HD and either ghost your existing one to some free space and install Linux in the remaining space, or just install Linux on the 2nd HDD.
Installing Linux will modify the boot loader. Linux will co-habitate with other operating systems, whereas Windows will delete the references to others.