Using a formula, not VBA, I would like to come up with a solution to split a string composed of multiple words. The formula should recognize the words where there is a capit
You're pushing the envelope with this requirement. What you want to achieve requires looping over the same string repeatedly. That can only be done with recursion and Excel formulas don't do recursion.
With modern Excel 2016 you have Power Query (Get & Transform, or the add-in for Excel 2010 and 2013) and you can use that to write out the logic in M code if you don't want to use VBA. Power Query can be saved in a macro-free workbook and new data can be processed with the click of the "Refresh all" command in the ribbon.