For the particular case of splitting strings into words I've come across another solution for SQL Server 2008.
with testTable AS
(
SELECT 1 AS Id, N'how now brown cow' AS txt UNION ALL
SELECT 2, N'she sells sea shells upon the sea shore' UNION ALL
SELECT 3, N'red lorry yellow lorry' UNION ALL
SELECT 4, N'the quick brown fox jumped over the lazy dog'
)
SELECT display_term, COUNT(*) As Cnt
FROM testTable
CROSS APPLY sys.dm_fts_parser('"' + txt + '"', 1033, 0,0)
GROUP BY display_term
HAVING COUNT(*) > 1
ORDER BY Cnt DESC
Returns
display_term Cnt
------------------------------ -----------
the 3
brown 2
lorry 2
sea 2