Yes, FontCreator is the best tool to create a set of typefaces based on your handwriting. You would probably need the Glyph Transformation tools in the Pro Edition to make different weights from your first font.
Scanning an Entire Alphabet and copy/paste to FontCreator from your favourite graphics editor is fairly quick.
Smoothing the outlines is what takes most of the time, then adjusting the spacing to get the font looking right.
My Hattha Font started life as handwriting drawn with a felt-tip pen, but I decided it wasn’t really good enough to be worth the effort of maintaining, so I took it down from my font site. I have attached it to the linked thread so that you can see what can be done with FontCreator, and a lot of patience. I created only one style with the pen.
The italic version shown there was created from the regular with a transform script, then some glyphs like lowercase f were modified to suit italics. The bold was created from the regular, then the bold italic from the bold, again using transform scripts to do most of the hard work automatically.