I'll take a stab at your question. I may be totally off base; though, here it is.
Given a field in a table that has multiple words separated by spaces, you'd create a stored procedure that enumerates that field in each row and splits it's contents based on whitespace. The procedure would insert each word component into a ?cursor? or temporary table. Then maybe you could run a 'group by' select call to get a distinguished list of words with their respective occurrences; e.g.,
Select Count(*), word, from my_temp group by word;
I have better knowledge of Interbase procs and can visualize a solution. I'm not that strong with respect to PostgreSQL.
In terms of the split function, PostgreSQL may have a default function to handle it:
http://www.postgresql.org/docs/view.php?version=7.3&idoc=1&file=functions.html
Or, you can create your own and bind it to the pg service.
I wouldn't mind a spellchekker utility within this forum.