You can enter multiple lines of text in a cell by pressing Alt+Enter at the end of each line in the same cell. Excel automatically moves the cursor to one line below. Excel also automatically applies text wrapping to that cell.
One more thing that can help is, text entered this way can be easily copied and spread over multiple cells vertically in a way that each line occupies one cell. Try entering 3 lines (or any number you wish) of text with Alt+Enter at the end of every line and press Enter once done with all lines. Now select that cell again and press F2. Select all the text entered and copy it (Ctrl+c). Select any empty cell now and just paste (Ctrl+v). Your text will now occupy 3 cells, one for each line you entered.
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