Welcome to the board. Split() should have done it for you. I did not provide an example of how to ReadLine() in the $Line but if you need, can do that too.

code:
break on
$Line = 'THE QUICK BROWN FOX JUMPED OVER THE LAZY DOG.'

$Words = Split($Line, ' ')

For each $Word in $Words
	? $Word
Next

? $Words[2]
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Give a man a fish and he will be back for more. Slap him with a fish and he will go away forever.