Hi Bobby,
You can do this using the String functions in T-SQL, specifically SUBSTRING and CHARINDEX. There are some links below to msdn that will get you started.
String Functions
http://msdn.microsoft.com/en-us/library/ms181984%28v=sql.90%29.aspx
SUBSTRING
http://msdn.microsoft.com/en-us/library/ms187748%28v=sql.90%29.aspx
CHARINDEX
http://msdn.microsoft.com/en-us/library/ms186323%28v=sql.90%29.aspx