This is quite simple, at least the "words" part.
Create a plain txt file with your words in it. Use e.g. Notepad for this. Put each word on its own line. Save it as a TXT file.
Start PowerPoint, choose File | Open and either type the full path to your TXT file into the space provided or browse to the file after selecting All Files in Files of Type.
Each line in the text file will become the title of a new slide. There's a limit to the number of lines/slides it will read/create. I forget what the limit is, but you can always spread the works over multiple text files. After opening the first as described above, you can also choose New Slide | Slides From Outline and pick a txt file to add its contents to an existing presentation.
If you make the file look like this:
Here is a title [tab]Here is a level-1 bullet point [tab][tab]Here is a level-2 bullet point [tab]And another level-1 bullet point And now a new title slide And so on your text file will populate the slide titles and also the bullet points below.