Text to Columns is a feature in Excel that parses the text in one cell/column into many columns using a delimiter than can be adjusted. You can find the Text to Columns button on the Data tab of the ribbon, in the Data Tools group.

In the example shown, the text in column B is separated with a vertical pipe (|) character. In the Text to Columns dialog box, the pipe has been set as the custom delimiter. Notice the preview area at the bottom of the dialog, which allows you to confirm results. Press the Finish button to perform the operation.

Example of Excel Text to Columns dialog box configuration

Note: it's also possible to parse delimited text with a formula.

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