Install the Homebrew Channel (softmod) is extremely easy these days. A lot has happened since the softmod came out and it takes about 10mins to install now. It's completely safe. Here's a great up-2-date guide on doing everything to your Wii:
http://www.wiilovemario.com/The-most-up-to-date-Wii-Homebrew-and-Backup-tutorials-known-to-mankind
You can softmod with Brewii.
Look at this
http://wiibrew.org/wiki/Main_Page
if u can read german, i can give you this page:
www.wii-homebrew.com
You can install a modchip or try the twiligth hack to install the homebrew channel and other softwares that run into the homebrew channel (Google). Both methodes are too risky if you don't know what are you doing. The wii discs have an automatic update and if your game is not of your region, will update the wii system with other OS, and your console will die forever.
SOURCE: how do i update my wii console if it is modified
if you have a software modified Wii then you cannot update the firmware without erasing the modification. If the Wii is chipped then the new firmware may also disable the chip.
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