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Insert a Module and paste this in the Visual Basic Editor. Use it as commented. Notice that the 2nd parameter is the word number to pick and the 3rd parameter allows it to strip trailing characters.
'=getword(A1,2,","&CHAR(34)&CHAR(39)&".?!")
Function GetWord(cell As Range, wordNumber As Integer, Optional stripEndChars As String) As String
Dim a, s As String, i As Integer
a = Split(cell.Value, " ")
If wordNumber > (UBound(a) + 1) Then
GetWord = ""
Exit Function
End If
s = a(wordNumber - 1)
GetWord = s
If stripEndChars = vbNullString Then Exit Function
For i = 1 To Len(stripEndChars)
If Right(s, 1) = Mid(stripEndChars, i, 1) Then s = Left(s, Len(s) - 1)
Next i
GetWord = s
End Function
A better solution would use regular expressions.
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