How to make a no-cd crack?

I want to try to create a no-cd crack for Morrowind. I have no clue how to begin this though. Do you have any tips on how to do this?

I've read that debuggers can be used to crack programs, so would the debugger that comes with the Windows SDK work for this?

>>1
Start classical way: http://tuts4you.com/download.php?list.17
Also grab recently leaked IDA Pro(with decompiler)
Other worthful tools are mentioned by Lena

>>11
I dunno about morrowind, but most simple CD check that I saw used  GetDriveType instead(
http://msdn.microsoft.com/en-us/library/windows/desktop/aa364939%28v=vs.85%29.aspx )