Quote:
"They tried to pierce your heart with a Morgul-knife which remains in the wound. If they had succeeded, you would have become like they are, only weaker and under their command. You would have become a wraith under the dominion of the Dark Lord; and he would have tormented you for trying to keep his Ring, if any greater torment were possible than being robbed of it and seeing it on his hand."
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This is Gandalf speaking to Frodo at the start of the chapter "Many Meetings." I think it should answer some of your questions. You may want to check out that section for further information.