Magnaflux or magnetic particle inspection can be done with powdered iron or iron oxide and a fairly large permanent magnet if your part is not too big. You just have to keep rearranging the magnet to change the lines of flux in order to detect cracks going in different directions
In practice, NDT outfits use a big direct contact head shot machine also with a coil mounted on a trolley and huge 6-volt batteries to get the DC amperage required. Some use coiled heavy gauge wire cables and just wrap the cables around the part to get the coil effect. In any case, when you magnetize you need an AC coil to demag the part after the inspection or every bit of iron it comes in contact with will continue to stick on there. That would not be a good thing for crankshafts, gears, or any other parts bathed in lubricating oil other than the drain plug. I have a detector that will tell you if it's all out of there but a magnetic compass will work too.
The dye check stuff is cheeper than Magnaflux equipment and easy to purchase. I think Aircraft Spruce & Specialty has the kits too. I used to do this stuff as part of my FAA repair station but I had to go get my eyes checked every year then I also had to calibrated the electrical ampere meters, the gauss meter, and even check the output of the UV black light plus getting that meter checked every year. It takes a lot of equipment to do a good job so I just take the stuff to an NDT outfit and let them worry about all that other stuff.