Okay, So I am trying to take a bunch of text ( sermon from my church on youtube) and download the script and get it into paragraphs etc. Is it possible in word to somewhat find the paragraphs and add them and punctuation? in other words if I have just a bunch of text together can word somehow format it for me?

Yes. There is a feature called AutoFormat.

Do it on a copy. Chances are you will not be very satisfied with the results.
The optional settings can be found under File > Options > Proofing > AutoCorrect Options > AutoFormat (tab)

You would want to add the AutoFormat command to your QAT.
Modifying the Quick Access Toolbar (QAT) in Microsoft Word



Otherwise, see Cleaning Up Pasted Text by Suzanne Barnhill, MVP