What is a good text formatter which is fast, efficient, nice and easy to use? I would like to have a text formatter similar to wordpress, if possible. Is there any open-source, or free ones? If you know a good one which we have to pay for it, I’ll take it into consideration.
Thanks in advance
A (google) search for “javascript rich text editor” should answer that question for you 
For a nice overview, take a look at this article.
What do you mean by “text formatter”? Rendering text a certain way in HTML? If you’re talking about a textarea editor, here’s one to consider: http://markitup.jaysalvat.com/home/
I’ve been using the ckeditor for a long time. Another popular one is tinymce.