hi, ok, there are numerous ways to hack a psp, (install custom firmware aka CFW, here's a video tutorial:
YouTube - How to Install CFW on PSP phat OFW
you will need a pandora battery by the way, if you don't know what a pandora battery is, in one sentence, is a special battery for the psp that allows the installation of custom firmware CFW, you can purchase the pandora battery in this site, or look for one on ebay etc, once you have installed your CFW, you'll be able to play your ISO backups and homebrews and a lot of other stuffs, such as msn.....and etc etc.
just get a pandora battery and follow the video instructions and you'll be fine, good luck
