You can also use system information utilities such as Belarc Adviser http://www.belarc.com to list the details of your installed hardware and software.
Check the device manager, if there is an error there, check the resources, then try reinstalling the driver.
If there is no error, run some diagnostic software. if an error is detected, try reseating the IDE cable, and check the power, if still no response, you may have to replace the cd-rom, but from what it sounds like, I think it is a software problem
You should first try the same CD in another drive. If it can be read, then the problem is likely not with the CD. You should then try a known-working CD in your CD-ROM drive. If it can be read, then the drive is probably okay, and the problem is likely with the CD. If the CD that you’re having problems with is either CD-R or CD-RW, there are other considerations. The CD may not be “finalized”, or you drive may not be new enough to read the data.
Boot your PC from a DOS floppy that loads CD-ROM drivers. If you can read the CD from DOS then the problem is with the OS. If you can’t read the CD in DOS then you need to replace the drive.