Html Edit:

  TDHTMLEdit

Component by Peter Morris

Drop this component on a form and you have an almost complete HTML-editor. The component makes use of the DHTML Editing ActiveX control. If you are using Internet Explorer 5, you already have DHTMLEDIT installed - it's part of the minimum installation for the browser. If you are using IE 4 or IE 5.5 you will have to download:

Dynamic HTML Editing Component SDK

You will also need to Import the ActiveX control in Delphi.

More info about DHTML Editing Component:

Delphi-DHTMLEdit discussion group

DHTML Editing Component

DHTML Editing Made Easy

DHTML Editing Control Sample

DHTML Editing Control FAQ

Here is a small demo