extracting words from the word string

=IFERROR(INDEX($A$1:$E$1,SMALL(IF(COUNTIF($F5,"*"&$A$1:$E$1&"*"),COLUMN($A$1:$E$1)-COLUMN($A$1)+1),COLUMNS($A5:A5))),"")

And copy to the right until E5 and down.

Option Explicit
Sub ExtractWords()
' hiker95, 10/13/2013
' http://www.mrexcel.com/forum/excel-questions/732529-extracting-words-word-string.html
Dim L, a As Variant, f As Variant
Dim i As Long, ii As Long, h As String, c As Long
L = Range(Cells(1, 1), Cells(1, Cells(1, Columns.Count).End(xlToLeft).Column))
f = Range("F5:F" & Range("F" & Rows.Count).End(xlUp).Row)
ReDim a(1 To UBound(f, 1), 1 To 1)
For i = LBound(f, 1) To UBound(f, 1)
  h = ""
  For c = LBound(L, 2) To UBound(L, 2)
    If InStr(f(i, 1), Trim(L(1, c))) > 0 Then
      h = h & Trim(L(1, c)) & " / "
    End If
  Next c
  If Right(h, 3) = " / " Then
    a(i, 1) = Left(h, Len(h) - 3)
  End If
Next i
With Range("A5").Resize(UBound(f, 1))
  .ClearContents
  .Value = a
  .Columns(1).AutoFit
End With
End Sub

=IFERROR(INDEX($A$1:$E$1,SMALL(IF(COUNTIF(F5,"*"&$A$1:$E$1&"*"),COLUMN($A$1:$E$1)-COLUMN($A$1)+1),1)),"")&
IFERROR(" / "&INDEX($A$1:$E$1,SMALL(IF(COUNTIF(F5,"*"&$A$1:$E$1&"*"),COLUMN($A$1:$E$1)-COLUMN($A$1)+1),2)),"")&
IFERROR(" / "&INDEX($A$1:$E$1,SMALL(IF(COUNTIF(F5,"*"&$A$1:$E$1&"*"),COLUMN($A$1:$E$1)-COLUMN($A$1)+1),3)),"")&
IFERROR(" / "&INDEX($A$1:$E$1,SMALL(IF(COUNTIF(F5,"*"&$A$1:$E$1&"*"),COLUMN($A$1:$E$1)-COLUMN($A$1)+1),4)),"")&
IFERROR(" / "&INDEX($A$1:$E$1,SMALL(IF(COUNTIF(F5,"*"&$A$1:$E$1&"*"),COLUMN($A$1:$E$1)-COLUMN($A$1)+1),5)),"")

And copy down.