Even in web-page view I see a limitation of 22" of page width. That does give a lot of space for characters, but is still limited.
NotePad has been my application when looking at a txt file as a start. I like Word as it helps in parsing data by giving to column number when selecting data. I've also just opened into Excel.
I haven't found one application to accomplish all that I wanted. However, most of my parsing is now down with PowerQuery which is more helpful. Though that may not apply to your situation.