Yes, you do need a CD writable drive in order to make any creations or alterations to a CD.
Unfortunately, studies have shown that many CD-Rs and CD-RWs degrade over time, thus as far as long-term permanent storage goes, the length of preservation is variable. Nevertheless, they are more stable and longer lasting than your typical 3.5 floppy.
If you feel comfortable with installing a CD-writer, trust me it's very easy, you can purchase them cheap online, you can try http://www.pricewatch.com
. If you rather, youc an purchase an external CD-writer drive, or if you want more permanent and safer storage, you might want to invest in a USB Hard Drive.
I hope thi shelps a little, and please feel free to ask more !