I would like to create a feature within Excel where I type in a "word" and
when I do, the cell I am will automatically color fill with the text in the
cell when I press enter.

I realize you can record a macro to do this, but I have over 100 words that
need color back filled and you can only save 52 macros. I thought of "2
digit" shortcuts but with macro help I don't find where I can save except for
the standard "1 digit" shortcut.

I thought of conditional formatting but I am unfamiliar with that step and
it appears that I would only be allowed up to 3 words with this.

Can someone explain to me how it is I could do this? It is for a
spreadsheet where the "words" are actually Company/Property names that have
specific meaning when colored that is different from the other information in
the spreadsheet.

If it is with conditional formatting, then could I create a list of words
and use the same color?

I thought of VBE, but I am unfamiliar with coding in it.

All assistance will be much appreciated.