In case you missed the link from the home page, there’s a short video on Youtube (just 2 and a half minutes long) that shows how you can use CD Label Designer to easily and quickly create nice looking label for your home-made disk.
The video teaches you to insert photo, circled text and formatted text, change font and other formatting and apply some interesting effects (shadow and transparency). But this is not all that CD Label Designer supports – you can design other types of labels (CD/DVD covers, Booklet or Sleeve/Envelope), apply even more photo effects, add various shapes with different fill types, automatically insert list of files or songs, etc.
Feel free to learn more, download a trial and play with it a bit.