“My favourite MS Word trick is Scraps – You can create ‘scraps’ in Word, which are small blocks of text from a document.

Highlight some text in an open document and drag it to the Desktop, and you will see it appear as a document scrap. You can arrange and rename your scraps on the Desktop, and simply drop them back into Word documents as you need them. The scraps can be pasted into most other applications too.”
says Amit Agarwal from Digital Inspiration.

Now that is a cool application for MS Word which I did not know. Just drag any text from Word to the desktop and it creates a file by the name – Document Scrap “First few words of text…”

Now you can keep track of multiple selected texts easily and reuse them when required, much better than the clipboard. This that is a definite alternative to my clipboard use!