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Default Name value position in a string of data

Hi
I have a TXT file that I need to modify before I send it and replace some of
the data on it.
So I was thinking to import it in Excel than give a name to a position in
the string EG:
A = 61 to 71 and than replace the value in 61 to 71 with *******
How can I do the above or do you know any other ways?
I need to do this for multiple positions in the string of data.
Thank you for your help.

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