Steal a mortar and pestle, then steal plenty of food items and turn them into potions. It should not take very long before you reach the Master Of Alchemy level.
Get two ingredients that form to make a potion. Use the "Duplicate items" glitch on the ingredients to create a large number of them. Then, repeatedly make potions and your Alchemy will increase significantly fast. Note: Only duplicate about 100 of each ingredient at a time or the game will freeze.