I installed the FCKeditor module today. FCKeditor is a what you see is what you get (WYSIWYG) editor. TinyMCE is another very popular editor. I've had mixed success with that one in the past. After seeing a real good review of the different editor options I decided to give FCK a go on this site.

It's very important that you follow the directions in the Read Me file very closely when installing any rich text editor for Drupal. For example, unlike most Drupal modules both TinyMCE and FCK require a download from a third party website. Also be aware that WYSYWYG editors can sometimes play havoc with media (like YouTube videos) that you try to embed in posts.