Bacon cooked to perfection is both chewy and crispy. If you overcook it, it's nothing more than a chargrilled mess on the corner of your breakfast plate. Undercook it and it's a chewy and potentially full of bacteria as well as parasites that cause bacterial infections. It's difficult to check that bacon is fully cooked through because it's a thin cut of meat so most people make sure it's crisp before taking it out of the pan. That's normally too late though if you want to make perfect bacon.
Cold bacon in a hot pan
When you're in a rush in the morning you will probably cut corners by heating up the pan on the hottest hob and then chucking the bacon in straight from the fridge. You'll make edible bacon but if you want some great bacon, warm up the pan over medium heat with the bacon in it. You'll make tender bacon that way as the fat slowly renders out of the meat and into the pan. The bacon will cook in its own grease and you'll get crisp bacon.
Are you using the right pan to cook your bacon? An aluminium pan will cook the bacon but it won't do those rashers the justice they deserve. Use a cast-iron frying pan and you'll notice the difference. The pan's heavy bottom surface evenly conducts heat so the bacon will be cooked equally well so those burnt edges will be a thing of the past. Other types of frying pan create hot spots that cook the meat unevenly so invest in a cast-iron pan and all your meat will be cooked evenly.
Do you add water to the pan or not? If you do, the pan with sizzle so don't add water during the cooking process. Making bacon with water actually ensures you get crisp and tender rashers. Those dry and crumbly rashers will be relegated to the past if you cover the rashers with water and put the pan on high heat. You might be worried that you'll actually be boiling rather than frying your bacon. You won't because the high heat you'll use fries the bacon while the water makes sure it remains moist and tender. You cook until all the water's evaporated and then brown off the meat over medium-low heat.