Owen's answer appeals directly to the properties of the metric that are important, and that's the best way to do it. However, I usually motivate the explanation of how many errors can be corrected with some helper diagrams.
Keep in mind that these pictures are purely schematic, and don't accurately represent distances or how many words are near a particular codeword. (We can't expect to convincingly compress $n$ dimensions down into two anyhow.)
The idea of maximum likelihood decoding is to cover the entire space of words with nonoverlapping circles. Here is a picture of a portion of such a space:

This is meant to depict part of a code of minimum distance $7$. The dots on the intersections are possible words, the red dots are codewords, an the green dots are codewords falling on and within a circle of radius 3 around each codeword. Because the minimum distance is $7$, all of the radius $3$ circles will be nonoverlapping. If we receive a green word, then we should correct it to the red codeword in the center of the ball it lies in.
The black codewords aren't correctable in this scheme. If we increased the radii of the circles, things wouldn't work out, because circles would overlap and you would not know where to correct words landing in overlaps.
Why was $3$ the right choice? It's just the biggest integer you can pick so that these circles don't overlap. The theoretical "midpoint" of codewords spaced as close together as possible is $3.5$, and circles of radius $3.5$ would touch each other. However, in the Hamming distance, the distances are all integers, so you can bring the radius down to $3$.
Next, let's decrease the minimum distance to $6$, where I've drawn circles still with radius $3$. We will see there is a problem:

The yellow word turns out to lie on the border of two circles! It's not clear which circle it should go to, so this radius is too big for unambiguous correction. We need to now ratchet it back to a radius of $2$ instead of $3$.
So, keeping this picture in mind, one can come up with the formula for how many errors a distance $d$ code can correct. When $d$ is odd, the halfway radius between codes minimum distance apart is a half-integer, so you can afford to reduce to $\frac{d-1}{2}$ from $\frac{d}{2}$. When $d$ is even, the halfway radius is going to allow a correctable word to sit on the edge of two correction circles, so it is too large. Knocking it down to $\frac{d-1}{2}$ prevents this overlap, so that you can correct all errors unambiguously.