Rename the file so that it has an extension of .txt, then with Excel
running use File | Open and browse to the folder and point to the .txt
file (you will have to change the File Type box to All files *.*).
Excel will automatically start the Data Import Wizard, in which you
have a lot of control over how the imported data is to be treated.
Alternatively, import the file into one column (presumably that is
what you are doing now) and use Data | Text-to-Columns to split the
data up.
Hope this helps.
Pete