We present a multi-wavelength analysis of high-resolution observations of the quadruple lens B1608+656 from the HST archive , acquired with WFPC2 through filters F606W ( V-band ) and F814W ( I-band ) , and with NIC1 in filter F160W ( H-band ) . In the three bands , the observations show extended emission from the four images of the source in a ring-like configuration that surrounds the two , resolved , lensing galaxies . B1608+656 was discovered as a double-lobed radio source , and later identified as a post-starburst galaxy in the optical . Based on photometry and optical spectroscopy we estimate that the stellar population of the source has an age of \sim 500 Myr . This provides a model for the spectrum of the source that extends over spectral regions where no observations are available , and is used to generate Tiny Tim PSFs for the filters . Deconvolutions performed with the Lucy-Richardson method are presented , and the limitations of these restorations is discussed . V - I and I - H color maps show evidence of extinction by dust associated with one of the lensing galaxies , a late type galaxy presumably disrupted after its close encounter with the other lens , an elliptical galaxy . The extinction affects the two lens galaxies and two of the four multiple images . The diagnostic of wavelength-dependent effects in the images shows that corrections for contamination with light from the lenses , extinction , and PSF convolution need to be applied before using the extended structure in the images as a constraint on lens models . We will present the restoration of the images in a subsequent paper .