1. A method for embedding a watermark in a digital image, wherein the watermark comprises a plurality of binary bits, the method comprising: representing the plurality of binary bits in the watermark using a plurality of symbols, wherein each symbol of the plurality of symbols represents at least two binary bits; transforming the plurality of symbols into a plurality of pseudo noise (PN) sequences, wherein a symbol transformed into a PN sequence represents at least one PN sequence vector from a set of PN sequence vectors; embedding the plurality of PN sequences corresponding to the plurality of symbols in the digital image to generate a watermarked image; recovering the watermark from the watermarked image including: identifying the plurality of PN sequences in the watermarked image to recover the corresponding plurality of symbols associated with the watermark; obtaining a correlation value corresponding to a correlation between the watermarked image and a PN sequence, wherein the correlation value comprises a magnitude and a sign; comparing the magnitude of the correlation value with thresholds, wherein the thresholds are selected based on a size of the PN sequence, while the number of thresholds is selected based on a number of binary bits represented by a symbol; and identifying the PN sequence in the watermarked image based on decision regions and the sign of the correlation value.