Best Text Editor (Not for coding, for your site!)

CkEditor is super powerful. There are so many extensions for it, it's been around for ages and a lot of the top forum vendors use it in their own software (such as IPS). IT depends on your goals, of course. If it's something dead simple, then CKEditor might be over the top and just add size to the page load times. There's just so many options with it, I wouldn't really go past it. Really nice and easy to run multiple instances on one page and submit with js/ajax (Rather than direct POST).