Mixing cheesecake batter with an immersion blender
The place I learned how to make cheesecake used an immersion blender. because that is what the person teaching me preferred to use. Technically it works, however it was a real pain. I couldn't get the cheese to seperate from the bottom of the bowl. The instructor finally took over and reccommended I use the mixer. 
Also you cannot feel the consistency as well, when using a machine to mix the batter, that is why I prefer to use a fork or a hand mixer.

Further info to avoid cracks: Cooking the cheesecake in a waterbath is always the most effective way to avoid cracks. 
Put a cake or jelly roll pan beneath your springform pan and cover the bigger pan with water before putting your springform pan in, when you are actually cooking your cheesecake. And slowly. Cranking up the temperature to cook it fast will still kill it even with a water bath. I think that is true for anything you put in the oven though.