Zowie is right! Boom! Looks like maybe the bolt that holds the rotor on broke or backed out and went into orbit. Must have scared the pi$$ out of you or whoever was riding it at the time.
Fixable though, like Lucky said, remove+replace. ebay will be your best source of parts. You're biggest expense will probably be the charging rotor, it might have survived but they are fragile. The covers, stators, rotors, and brushes, from a 79 and up CB-650, CB-750 or CB-900 will fit. So there are plenty available.
As an example, here's a cover with the stator and brushes:
http://www.ebay.com/itm/80-Honda-CB-900-C-Custom-Good-Stator-Charging-Coil-w-Cover-Alternator-Generator-/290839681887?pt=Motorcycles_Parts_Accessories&hash=item43b7655b5f&vxp=mtr$45.00
89 VN 750A - Given to son-in-law
79 CB 750K-sold 3 May 21
78 CB 750K
77 CB 750K
77 GL 1000 x 2
77 CB 550F
Holton, KS, US