With the price of USB disk drives at an all time low, it makes more and more sense to convert your library of CDs into ISO images and access them digitally.
Note all this is applicable to Windows based computers.
To virtualize your library of CDs, you’ll need a program like ImgBurn (the official ImgBurn site is at http://www.imgburn.com/ if you wish to learn additional details about it) to convert your CDs into ISO images.
After you convert your library of CDs into ISO images, you’ll need a program to virtually load or mount them. For this a program like Virtual CloneDrive will do the job.