As with a lot things in Photoshop or Illustrator...there are many ways to achieve the same results. Tablets can be handy for the coloring phase but not required.
You could use either program or both and start with a scan of your drawing.
a cpl tutorials to help you along
Photoshop:
http://www.melissaclifton.com/tutorial-comicbook.html
http://www.melissaclifton.com/tutorial-popart2.html
http://www.gomediazine.com/tutorials...-illustration/
Illustrator:
Create a Vector Cartoon Character from a Hand Drawn Sketch:
http://www.blog.spoongraphics.co.uk/...d-drawn-sketch
Coloring images with Live Paint:
http://www.graphics.com/modules.php?...icle&artid=576