If you want to bold italic or under line text you can use Html support in crystal report you can also enjoy other features of html in crystal report by using html tags
here i am showing very simple example how to bold selected text in formula feild using HTML
create a new formula
now right click on the field
select Format Field
select Paragraph tab
Change Text Interpretation to "HTML Text"
you will get the following result
TRIPLICATE - For Authorised Dealer's record.