Real advice
Really helpful advice guys... Not!
Yes, you can do this in Illustrator, and here's how... exactly...
1. Type your text in the font you want to use at, or close, to the size you need.
2. With the text selected, choose "create outlines" from the Type menu.
3. If you don't see the Graphic Styles palette, choose it from the Windows menu.
4. The Graphic Styles palette contains some pre-defined styles for you to start with - more are available in the Graphic Styles options menu.
5 You may also select from the options menu to over-ride character colours or not - allowing you to control the base colour used in the pre-defined style.
6. To see all the different layers generated by the application of a Graphic Style, or indeed to edit the different parts, open the Appearance palette and select the object if it isn't already selected - all the layers in the style are listed in top-down order, and selecting a layer in the palette also selects and isolates that layer in your drawing.
You can create your own styles and save them too, and of course, for use on a website you'll have to "export" your file to GIF, JPG or PNG format at 72dpi, but that's a horse of another colour!
dmz