Fahim,
Before I digress, such software requires a camera. The software will not help for visual aligning.
You can actually use any auto-guiding software that logs corrections in X (RA) and Y (DEC) axis. Simply log the output and pipe it into excel to graph the result. There are many instructions to do this, but I've found Brad Moore's to be the clearest. His instructions and excel template can be found here:
http://www.southern-astro.com.au/php...preciseCCD.php
If you're not into doing the ground work, then I'd recommend two products, both of which I've used: PolarAlignMax and PEMPro.v2
PolarAlignMax (from the producers of the legendary FocusMax) requires a full version of the Astrometric plate solving engine known as PinPoint. PinPoint LE (light edition or something) comes with MaximDL, but does not support the full plate solving features required. PolarAlignMax works by taking a series of images and plate solves them down to sub arcsecond accuracy. Based on the offset of these images, it will determine how far from the true pole you are and advise what needs to changed to correct the alignment error. It continues to do this iteratively until you reach your desired accuracy. Reasonably simple to use, though I've had a few minor issues with plate solving due to the FSQ's FOV. I used the USNO-2.0 (6GB) catalogue that will solve stars down to 18th mag. There were times where the platesolve would catalogue ~34,000 stars in a single frame and fail. This is way to many. Simply 100-200 stars is more than sufficient. I have since migrated to the GSC (Guide Star Catalogue 1.1 ACT (400Mb)) which does not go as deep (and altered the catalogue search criteria). Note, you'll need to output in FITS format for plate solves to work as the FITS header contains the RA/DEC of the image center. This give the plate solving engine a starting point to solve from.
PEMPro... This would have to be the Swiss army knife for fine tuning your telescope mount. An incredible piece of software. Now, version two, has a cool drift alignment tool which takes the guess work out of drifting. Dare I say it, but the drift alignment feature is actually "fun" to use. Almost too easy to use. The added benefit, is once you've finished drifted aligning, why not also go tune your mounts PE and Backlash. Three tools for the price of one. Just make sure you read the software requirements to ensure you've got compatible hardware/software. I use this exclusively now for drifting and PEC training.
Of course, you can also polar align your mount by building a pointing model (say 100 or so points). This can be done using TPoint or MaxPoint, but your costs will begin to increase significantly with these solutions. They are perhaps the most accurate as they also take into consideration other anomalies such as mirror flop, flexure etc.
Presented are a few options, I feel sure others may have found other software that works well.