gersfan is wrong.
Get a GUI like Arena, and play the two engines against each other with "ponder off." That way, the engines can't think when the opponent's clock is ticking and no one gets in the other's way.
However, doing this with chessmaster and rybka is a little tricky because chessmaster isn't a UCI engine. You can match up even stronger UCI engines, however, like stockfish and fire, which are both free and available online.
I have the Chessmaster/Grandmaster, after playing some rated games it started kicking my butt, so I wanted some revenge payback!
I played my Rybka 4 Extreme against it, (please do not tell anyone) and the games were really fascinating as they unfolded. I knew Rybka was going to win, but the opening and into the middle game they were really jockeying for positional advantage, and then came just the right time pawn push and things started going bad for Chessmaster. I found it constructive and educational, even though they were not real CMs.
What I would like to do now is buy the Deep Fritz 12, the $119.00 version, play against Rybka, but I am wondering, and I hope some of you Grandmasters when it comes to computers, could tell me if playing two such games on the same computer minimizing one screen then the other is an over load on the thinking processors? I think some one on another thread brought this out slightly?