On the Layer palette, click the layer name that contains the text.
On the Tools toolbar, choose
the Object Selection tool
.
Click the text. A bounding box with editing handles surrounds the text.
You can make two types of selections with text:
Use the Object Selection tool to select vector text so that you can edit it.
Use the Text tool to create a raster text selection (a selection marquee shaped like text) that you can use to create interesting effects. For example, create a text selection on a solid colored layer and then delete the selection so the letters become transparent and are outlined in the solid color.
To select vector text:
On the Layer palette, click the layer name that contains the text.
On the Tools toolbar, choose
the Object Selection tool
.
Click the text. A bounding box with editing handles surrounds the text.
You can now move or resize the text. Double-click to edit the vector properties (such as the color or texture).
To edit the selected text itself:
Do one of the following:
With the text selected, choose
the Text tool, place the cursor
over a character, and when the cursor shape changes to 
,
click the text. The Text Entry dialog will appear with the text highlighted;
or
Right-click the text in the Layers palette, and then choose Edit Text from the context menu; or
Double-click the text in the Layers palette. The Text Entry dialog will appear with the text highlighted.
To create a text selection with the Text tool:
Select the Text
tool
.
On the Tool Options palette, in the Create as drop-list, choose Selection (which creates a selection shaped like the text rather than text as a painted object).
Click where you want to start the text selection. This displays the Text Entry dialog.
Set the text options and enter the text.
Click Apply.
Making Selections with the Freehand Tool
Making Selections with the Magic Wand Tool
Making Selections with the Selection Tool