In Word 97 or Wordpad, highlight a block of text and drag it to the desktop. Windows will create this block of text as a Scrap file. Do not underestimate the use of scrap files. Imagine you have 3 to 5 lines or quotes which you want to keep repeating on several pages. The Copy-Paste won't work so well with multiple selections.
All you need to do is copy the "scraps" onto the desktop beforehand with appropriate names. Resize your word processor nicely so that part of it can show the desktop. When you need a selected block of text, just drag it into the word processor and it will instantly show up.