Yes you can. For PPT 2002/2003 go to View > Slide Master.
While in your slide master, click Format > Background. In
the drop down menu click Fill Effects, then click the
Picture tab and then Select Picture. Browse to where your
picture file is located, double click to insert the file
then click OK. Click Apply or Apply to All depending on
whether or not you want both the Title or Slide Masters
to have the same photo.
Sandy