Yes a 1:1 (one to one) copy is copying the game exactly like the original. This can be hard to do if you don't have the right equipment. I suggest you read
this guide to making 1:1 copies with Alcohol 120%
A no-cd crack is usually a modified version of a certain file of the game (usually the main executable file) with the copy protection and the cd-checks removed from it. This means that you are able to play the game without inserting the cd. Sometimes the user will have to copy over files from the hard drive to the game's folder in order for the no-cd crack to work properly.