yeah i crack my knuckles, and since i had a really bad strain neck (not sure if thats the term, i couldnt move it.. anyway..) for a month(!) in the 10th grade i crack once in a while my neck too!
now while i was in the army i worked with a lot of doctors.. and i asked one about it, he said the same "small gas bubbles popping or bursting under pressure" thing and that its harmless..
..i dont think about it too much..
btw- i too cracked them while reading this