Firstly, I suggest grabbing the
Morrowind Mod Maker's Manual from TheLys (it's a little over halfway down the page). Read up the basics of using the CS, then check out the section on Usable Items>Weapons.
Then decide whether you want to make your weapon based on an existing type (say...a Steel Longsword), or make your own, specifying a new or old mesh. Either way, you should start by double clicking the existing weapon (or any if you're using a custom mesh) under the weapons tab, then you can modify the attributes. Just be sure to make a unique ID for the weapon, so you don't modify all Steel Longswords (or whatever) in the game. Something like _Kamei_Sword of Pwnage to identify it as your modified sword, and stick it at the top of the list. You can edit the attributes like damage, health, weight, etc. You can also add an existing enchantment to it. To make your own enchantment, check out the enchantments tab, and create a new enchantment in a similar fashion - I'll let you explore that on your own.
Remember, a simple google search (or forum search) will answer most of your questions. Although it's nice to expect forum goers to give you all the answers, we aren't a service. I'm giving you most of the information now because I'm bored and sick, and feel like typing.