Why, I still didn't get an answer from the poster in this post.  

But with Rudy laying the ground work I came up with the following.  

Why anyone would need to do thids, I have no idea.  I added a twist to this version 

where it counts the occurances.  The end goal here though was to find the text

row with the most occurances of any 1 word, and order the rows in that order.

Why?  I have no idea.

 
create table somewords
( id integer not null primary key identity
, blah text not null
);
insert into somewords (blah) 
values ('a word that appears maximum number of times in a column')
insert into somewords (blah) 
values ('Is it possible to get words from text columns in a sql server database')
insert into somewords (blah) 
values ('This could solve my problem if reffered column contain only single word')
insert into somewords (blah) 
values ('that''s going to require that you split out every word in the column individually')
insert into somewords (blah) 
values ('the query will definitely not be easy to write')
insert into somewords (blah) 
values ('Please read the sticky at the top of the board')
insert into somewords (blah) 
values ('The physical order of data in a database has no meaning')
GO
CREATE TABLE UniqueWords (
   Word varchar(256)
 , WordId int IDENTITY(1,1)
 , WordCount int DEFAULT(1)
 , Add_Dt datetime DEFAULT (GetDate()))
 GO
CREATE UNIQUE INDEX UnqueWords_PK ON UniqueWords(Word)
GO
CREATE PROC isp_INS_UNIQUE_WORDS
AS
BEGIN
 SET NOCOUNT ON
 DECLARE @Words INT, @Pos INT, @x Int, @str varchar(256)
    , @word varchar(256), @start int, @end int, @exitstart int
 SELECT @Words = 0, @Pos = 1, @x = -1, @Word = '', @start = 1
 DECLARE myCursor CURSOR FOR SELECT Blah FROM SomeWords
 OPEN myCursor
 FETCH NEXT FROM myCursor INTO @str
 WHILE @@FETCH_STATUS = 0
   BEGIN
  WHILE (@x <> 0)
   BEGIN
    SET @x     = CHARINDEX(' ', @str, @Pos)
    IF @x <> 0
      BEGIN 
     SET @end   = @x - @start
     SET @word  = SUBSTRING(@str,@start,@end)
     IF NOT EXISTS (SELECT * FROM UniqueWords WHERE Word = @Word)
      INSERT INTO UniqueWords(Word) SELECT @word
       ELSE
      UPDATE UniqueWords SET WordCount = WordCount + 1 WHERE Word = @Word
     -- SELECT @Word, @@ROWCOUNT,@@ERROR
     -- SELECT @x, @Word, @start, @end, @str
     SET @exitstart = @start + @end + 1
     SET @Pos   = @x + 1
     SET @start = @x + 1
     SET @Words = @Words + 1
      END
    IF @x = 0
      BEGIN
     SET @word  = SUBSTRING(@str,@exitstart,LEN(@str)-@exitstart+1)
     IF NOT EXISTS (SELECT * FROM UniqueWords WHERE Word = @Word)
      INSERT INTO UniqueWords(Word) SELECT @word
       ELSE
      UPDATE UniqueWords SET WordCount = WordCount + 1 WHERE Word = @Word
     -- SELECT @Word, @@ROWCOUNT,@@ERROR
     -- SELECT @x, @Word, @exitstart, LEN(@str)-@exitstart, @str
      END
   END
  FETCH NEXT FROM myCursor INTO @str
  SELECT @Words = 0, @Pos = 1, @x = -1, @Word = '', @start = 1
   END 
   CLOSE myCursor
   DEALLOCATE myCursor
   SET NOCOUNT OFF
 RETURN @Words
END
GO
EXEC isp_INS_UNIQUE_WORDS
GO
SELECT * FROM UniqueWords ORDER BY Word
GO
DROP PROC isp_INS_UNIQUE_WORDS
DROP TABLE UniqueWords, somewords
GO

Legacy Comments

CORVUS 2006-12-21	re: Deconstruct Text, word by word, into a single column Brett, One flaw I see is that the original poster never asked to see which row contained the most occurances of a single word. He was asking which word appeared the most times in the field "irrespective of row". Looks to me like simple (but complex) data mining.
Adam Machanic 2006-12-21	re: Deconstruct Text, word by word, into a single column Hard to say why the poster wanted it, but it's one step away from an inverted index, so it definitely has its utility!