1. Emulate virtual CD/DVD-ROM/HD DVD and Blu-ray drives
DAEMON Tools Lite [Commercial] enables you to emulate up to 4 CD/DVD virtual drives on your PC. Virtual drives will appear in your OS just like real ones. Select a virtual drive then choose a disc image you want to mount. Find the created virtual drive with mounted disc image in My Computer. Start working!
Looks like working with a real drive and a real disc, doesnt it? Yes, but it is much faster!

2. Create a disc image
With DAEMON Tools Lite [Commercial] you can create ISO and MDS image files from original discs inserted in physical CD/DVD/HD DVD/Blu-ray drives.
Do you want to protect your image content from unauthorized use? DAEMON Tools enables you to set unique password and only the ones who know it will be able to mount that image and get all contained data.
If you want images to take less hard drive space just use Compress image data option before start disc imaging process.
You could also use images created with other program. DAEMON Tools products work with variety of image types.