I'm no expert on Excel by a long shot. However I just insert the picture into the row of information. At the moment I have had to shrink them down to a thumbnail on the Excel sheet itself, however I know there is a way to link it where it can pop up but I haven't worked that out yet. So far the thumbnails help jog my memory enough. I know a lot of people are concerned about "sizing" and like to know the size of the stamp from a picture. That isn't my issue. however, if I do have the information I just jot it down on my sheet for reference.
I find if I am struggling with a card to have the small pictures helps me work through my ideas (or lack of) by finding something to start with without being overwhelmed by physically going through my stamps. Everyone has their own way that works.
TBH I started the Excel sheet with the intent of making a database in Access... LOL...