I use Make Torrent 2, but at first it wouldn't run for me either.
If it crashes during startup, then go to the folder you've installed it in, right-click on the maketorrent.exe file, select properties, select the compatibility tab and choose a different compatibility mode. I've chosen windows 98/windows ME (although I'm actually running XP) and it works without any problems now. Trust me, it works.
Alternatively, some bittorrent client programs can be used for making torrents too. I know uTorrent has that option and probably others too.