Yes it is, you could do something like this in HTML5, using the download attribute
function download_txt() {
var textToSave = document.getElementById('txt').innerHTML;
var hiddenElement = document.createElement('a');
hiddenElement.href = 'data:attachment/text,' + encodeURI(textToSave);
hiddenElement.target = '_blank';
hiddenElement.download = 'myFile.txt';
hiddenElement.click();
}
document.getElementById('test').addEventListener('click', download_txt);
FIDDLE
