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?

>>8
learn x86 assembly
x86 assembly is shit. All of the cruft and kludges just because Bill would cry if he had to remove his 1981-era code from the Windows code base. But hey, at least it runs VisiCalc. I call advocating x86 "toeing the A20 line."