This free component is so good, not only did I use it but I want to tell you about it too!
Turning <TextArea> into a HTML editor
I was on IRC a few days ago when someone mentioned htmlarea. I visited their website and was amazed! This simple to use script converted any plain HTML <textarea> input of your choice into a full HTML editor!
I found this tool so impressive that I wanted to use it for HowToDoThings.com, so I spent a while looking for the price. Imagine my surprise when I discovered that it was completely free.
Anyway, you can see this tool in action my logging in and adding/modifying an article on HowToDoThings.com - or you can visit http://www.interactivetools.com/products/htmlarea/