[1][2] Human Interface Guidelines recommend a single-line text box when only one line of input is required, and a multi-line text box only if more than one line of input may be required.
It is common for the mouse cursor to change its shape when it hovers over a text box.
When keys are pressed on a keyboard, the text appears where the caret is.
Delete / ← Backspace keys remove one character right / left of current caret position, while pressing them together with the Ctrl or command key removes one word.
Edits can be undone and redone with Ctrl+Z / Ctrl+Y (Windows) or ⌘ Command+Z / ⌘ Command+⇧ Shift+Z (Mac OS)