VLOOKUP to find values in text string???

I need to to highlight keywords within a block of text (string). I don't need to necessarily return a value with the VLOOKUP. I just need to compare keyword list in Column B to the Text in Cell A1. If the word from the list appears in the text, I need it to be highlighted for every instance.

EXAMPLE
Text String (A1)
Welcome to Jake's Car Accessories website. We have all of your car accessory needs including car covers, truck covers, custom car grills and other car accessories.

Keyword List (Column B)
car accessory
car covers
truck covers
car accessories

I think VLOOKUP only works on lists. I'm not sure if it is possible to do this. Any ideas or alternative suggestions are greatly appreciated.

Thanks!

Dude.... you are so freaking awesome! Exactly what I was looking for

Now.... one quick thing.

Say for instance I have a Column C with hyperlinks. Could this code be modified to dynamically insert hyperlinks based on the keywords from maybe a VLOOKUP?

Well.... thanks a lot for your time and help. I really appreciate that

How do you insert this code into your excel worksheet?