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HTML

<form>
    <input id="textbox" type="text">     
</form>

JavaScript

/**
 * jQuery auto-correct plugin
 *
 * Version 2.0
 *
 * Copyright (c) 2012 Amit Badkas <[email protected]>
 *
 * Dual licensed under the MIT (MIT-LICENSE.txt) and GPL (GPL-LICENSE.txt) licenses
 *
 * @URL http://www.sanisoft.com/blog/2009/06/22/jquery-auto-correct-plugin/
 *
 * @Example example.html
 */
jQuery.fn.autocorrect = function(options)
{
    // If plugin attached to text/textarea field then don't need to proceed further
    if ("text" != jQuery(this).attr("type") && !jQuery(this).is("textarea"))
    {
        return;
    }

    // Default parameters for plugin with some default corrections
    var defaults = {
            corrections: {
                teh: "the",
                gr8: "great",
                taht: "that",
                ur : "you are",
                arent: "are not"
        }
    };

    // Merge corrections passed at run-time
    if (options && options.corrections)
    {
        options.corrections = jQuery.extend(defaults.corrections, options.corrections);
    }

    // Merge options passed at run-time
    var opts = jQuery.extend(defaults, options);

    // Function used to get caret's position
    getCaretPosition = function(oField)
    {
        // Initialize
        var iCaretPos = 0;

        // IE Support
        if (document.selection)
        {
            // To get cursor position, get empty selection range
            var oSel = document.selection.createRange();

            // Move selection start to 0th position
            oSel.moveStart("character", 0 - oField.value.length);

            // The caret position is selection length
            iCaretPos = oSel.text.length;
        }
        // Firefox support
        else if (oField.selectionStart || oField.selectionStart == "0")
        {
            iCaretPos = oField.selectionStart;
        }

        // Return results
        return (iCaretPos);
    }

    // Function used to set caret's position
    function setCaretPosition (oField, iCaretPos)
    {
        // IE...