Comparing Championship Titles Across Sports

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I had this discussion amongst some poker buddies and we never agreed on how to properly compare the number of championship titles amongst the 4 major North American sports.

In particular, the NY Yankees with 28 MLB titles versus the Montreal Canadiens 24 NHL titles. In the NFL the Green Bay Packers lead with 12 titles. The Celtics have 16 NBA titles.

So which team has been most successful? How do you adjust their title totals? Certainly you must consider the amount of years each team has played for a title. Also, how many teams each year were vying for a title? Obviously the Canadiens were more likely to win a Stanley Cup during the Original Six era of the NHL, than when they won the Cup in 1993 when there were 24 teams.

Are those the only two main factors to adjust for?