I think your image has a multiline text. In that case, first you have to do is to detect these lines.
For that, first binarize the image using Otsu's method or adaptive thresholding.
Then,you can use something what is called as "Horizontal histogram". It is like a histogram itself, but shows where there are lines and where there are blank spaces. So devide the images at blank lines, and you get each line. Below is the image of a horizontal histogram.
Now for each line, find horizontal histogram. Before that, try to do some dilatation and erosion, so that all letters are grouped together. Then you can find connected components on each line to get each word. Then draw boundaries.
Below image shows both horizontal and vertical histograms:
This SOF might help : How to convert an image into character segments?
