Is it possible to mod my PSP without the use of a Pandora or magic memory?

I want a permanent mod. I am new here, don't know what my current options are. I know I would like to download my games to the memory card, also be able to play emulators of all my old favorites. I don't know much else of what can be done with these. I do mod xboxes and have a bit of understanding, but treat me as a newbie still who has trouble understanding the tutorials.