In a bowl, combine the crushed graham crackers, 1/3 cup sugar and 1/2 cup butter. Mix until combined. Press the graham cracker mixture into a pie dish. Bake at 350 degrees for 7 minutes. Allow to cool.
To make the cream filling: In a medium mixing bowl, mix the cream cheese, 1/2 cup sugar and whipped topping. Beat together until combined. Spread the cream filling on the graham cracker crust.
To make the peach filling: In a medium pan on the stove, combine the water, 1 Tablespoon butter, cornstarch, 1/2 cup sugar and almond extract. Cook on medium heat for 5-10 minutes, stirring often, until the filling thickens. Allow to cool.
Prepare the fresh peaches by peeling and slicing them. Add the peaches to the peach filling and pour on top of the cream filling to finish the pie.