There are many text editors available, some of them are free to use, but some of them you need to buy the licence. You can see the list of text editors from http://en.wikipedia.org/wiki/Comparison_of_text_editors
In my opinion, it is hard to say which one is the best or perfect. I think it really depends on what you need, and what platform are you working on.
20 years ago, when I was working on a UNIX operating system, I used to use VI editor. If you were sitting in the same office as me, you would have seen my fingers nonstop dancing on my keyboard —— VI is my favoured editor when I use Linux/UNIX system.
But, when I publish articles on the web, I use Microsoft windows system default editor: Notepad. It works perfectly for me for that task. I just don’t want to waste the time to try all the others.
What I do when composing my blog is:
First, I write the articles with Microsoft Word. When it is ready to publish, I copy and paste the whole article from Microsoft Word into Notepad. That will remove all Microsoft Word formatting, and only leave the pure text there.
Next, while Notepad is still open, I enter Ctrl + A to select all and Ctrl + C to copy the whole article;
Then, I paste it on my website for publishing.
The last things that I want to say here are:
For programming, we should choose an editor that includes syntax highlighting for your programming language, such as EditPlus, Notepad++, Netbeans, Sublime etc.
For web development, Webmatrix might be a good idea.
For web designing, I think Adobe Dreamweaver, Fireworks and Photoshop will be really handy.