Running An Emulator On 3.60 Slim & Lite?

I got a slim & lite PSP running 3.60 firmware that came with the system new. I've been reading about running an emulator, but a lot of it seems complicated for someone who isn't computer savvy like me, as well as many contradicting sources saying if you can/can't run emulators on a slim & lite. Is it true, can you simply not run an emulator on a slim & lite or is there some homebrew/firmware that gets around this? Sorry if this is a reposted topic, I've spent the last hour searching the internet for answers.