Fontmaster 128 v1.4 by Xetec (Written by Marty Flickinger) - The following is an excerpt from the manual:

Dozens of word processors are available for small computers. What makes Fontmaster special? While other companies are spending their energy thinking of new ways to edit text, we spend our time dreaming of new ways to print text. The foundation for the Fontmaster system is a unique process that produces near-letter-quality fonts on many low cost dot-matrix printers. Here are some of the many things that you can do with Fontmaster 128:

• Write and edit text quickly
• Rearrange text with easy to use commands
• Format your printed output anyway you want (over 70 instructions to control format)
• Check output with video preview
• Insert graphics of any size into your text
• Change the print font as often as you want, anywhere in your text
• Control over 15 text special effects with the press of a key
• Create and print form letters
• Print text in columns (up to four)
• Use files created with other popular word processors
• Create your own fonts (or modify ones on the disk)
• Write in foreign languages using bilingual feature
• Write using “righttoleft” languages such as hebrew

Here is a link to the Fontmaster 128 manual