Does anyone know which if any distant study degrees will be recognized as authentic in the real world? I've been thinking about distance Education, but I don't want to waste money if the degrees are not valid. Does anybody know any good Internet Universities that I can study Psychology at, to get a Masters degree? Does it take any longer to do than an on campus school? Does anyone know what the costs could possibly be? Thank you in advance.

While it's possible to get a number of different sets of valid academic credentials on line, most of them will be in the hard sciences, because the examination questions are less prone to subjective interpretation.

When you ask about "real world" validity, it depends. If you're going to use the degree as the basis for a PhD, then I would ask directly at three or four major schools you might want to attend to see whether they recognize any internet courses as valid for entrance.

A master's degree in Psychology isn't actually good for much except as a preliminary to doctoral studies. A master's in Social Work might be useful, but again, contact the agencies in your area you might be interested in working for and ask whether they would find that type of degree acceptable, and if so, which universities were acceptable.

Distance learning is very difficult, because there is no one-on-one interaction with other students or professors, no personal help.
Also, there is no way to know for sure that the credits you earn or the degrees you receive will be accepted or valid. I would be suspicious of an "internet university" but there are real actual universities that offer distance learning programs (the Univ. of Rochester, for example) and I would recommend you concentrate your efforts there.
However, some universities only accept credits for distance learning programs of their own, and the credits may not transfer. Even "real" credits do not always transfer between universities. There are no guarantees.
Your best bet is to find a real university with a distance learning program and then research it, to determine where the credits or degrees would be accepted. Of course, the university might not be completely honest with you, so this might not be very easy...
Do you have anything against actually enrolling in school?

The most important thing is finding a distance learning Masters program that is approved or accredited by the American Psychological Association (APA).

Some of these claim to be:
http://distancelearn.about.com/cs/psychology/

I'm sure you can trust the one's that are established land-based universities.

You can also check with the APA, but there is a search fee ($19.95 for 3 months of access): http://www.apa.org/gradstudy/.

For FREE, they'll tell you accredited DOCTORAL programs. Perhaps some of those universities have distance learning Masters degrees. Check the links at the bottom of the page: http://www.apa.org/ed/doctoral.html

The University of Phoenix is totally accredited and accepted worldwide. Its an actual university with an online arm. The degree is the exact same degree you'd get from going to the actual campus. It takes just as long to get - I'm working on my Bachelor's in IT, I had 47 credits and I am doing three more years at UoP to complete it.

Its difficult - rather than taking 4 - 6 classes for three months, you take one class at a time for 4 - 6 weeks. Its thorough, but intense. You definately have to apply yourself, but I strongly recommend it over other distance learning organizations that are not actual universities. You can end up paying the same amount for a certificate or an applied degree rather than the regular Bachelor's, Master's, or PHD.