Actually, music CD's bought in a store are "pressed" in a machining process, not written like a CDR. As long as there is no copy protection on the original disk, you can use just about any old CD copying program to copy it to a CDR. But if the original disk IS copy-protected, just use a program like Exact Audio Copy (since it ignores the copy-protection and just looks for the audio files) to "rip" the music to a high bitrate MP3 (or whatever other audio format you prefer) then burn it to the CDR as a music CD. It will turn the MP3's (or whatever) back into standard CD audio files on the copy. Another thing to keep in mind, not all CD players will play burned audio CD's. Most will, but some just won't. So maybe just giving your friend the MP3's would suffice.
As far as the labeling of a CDR.....well, you could use a lightscribe drive, but they generally only print in black & white, not to mention the CDR has to be lightscribe compatible and they usually only print plain text. There does exist special paper you could buy to print a replica of the design of the original disk, but you'd have to scan the original disk in a scanner to get the design, then you have to have the correct program (and a printer that will cooperate) to print to that special disk label, then stick it on the CDR.
I imagine there are newer ways to copy the imagery of an original disk to a CDR that I'm not aware of, but it's likely you'd have to spend more money to do it than it's worth.
It's MUCH easier to just copy the disk and then label it with a Sharpie or something. It's not as pretty, but it's the music on the disk that's important, not the label. If you have leet art skills, you could always attempt to draw a copy of whatever is on the original disk to the CDR.