You can bold, italicize, underline, indent, and more!
Most formatting is based in HTML so here's a quick chart:

---

<b>text</b> --> text.
<em>text</em> --> text.
<u>text</u> --> text.
<font color="red">text</font> --> text.

<a href="www.google.com">text</a> --> text.
<img src="url_to_img.png"> -->