First step: you need to have a multi-format VCR to be able to play it. US use NTSC format, UK use PAL format, so majority VCR in this country will not able to play US VCR tape. If you can get over this step, read one.
Second step: You need to convert Analogue video signal to digital video signal. Two methods. (a) get a video capture card (or TV card) for computer and install it inside of computer, or get an external usb video capture box. Then you can capture digital video to PC (b) Some digital camcorder is capable to converting analogue video to digital video, if you happy to have one, connect aanlogue signal to VCR player and digital sigla to PC and use a video capture program to capture digital video to PC.
Thirs step: Use a video editing program such as Ulead videostudio and prepare video files and burn to CD.