Next time when asking a question please post a helpful descriptive title, and try to be a more descriptive. Just pasting your code in and saying here do this for me will get you a negative response. Thoroughly explain what you have tried and what you are trying to do. Next time you ask a question.
To help you out though with you current dilemma you can try something like this.
$("#span").click(function() {
alert("1. all words into separate span, 2. all words gone after that ");
var textArea = $('#words');
var arrayOfWords = textArea.val().split(" ");
var wordsInSpans="";
$.each(arrayOfWords, function(i, word){
console.log(word) // you can do anything you want with the word in here
wordsInSpans += '<span>' + word + '</span>';
})
$('body').append(wordsInSpans);
textArea.val(''); // This will set the value to blank
});
good luck with what you are trying to build
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solved Jquery How to put text into separate span after pasting it