ok lets say you really need this done. You could compress and encrypt the data on the cd and then write a custom app which decrypts the files when the correct passphrase is entered. is your passphrase is sufficently strong then whoever is trying to crack will have a bloody hard time ( and lots of coffee). Other thing is to set ur autorun on the cd to the app u wrote.
this way u can password protect it whichever way u want.

ITCH-WARE ROCKS!!!