Is it possible to apply bold or italics to words when printing from MasterCook?
No. The program is a proprietary database program and is designed to apply font attributes to an entire data field and not individual words. A print design template controls how everything prints (recipes, menus, shopping lists, etc.) See Editing a Print Design – MasterCook Community
You can export to PDF or Word to use a program that is designed to apply font attributes to individual words.