How do I split a delimited string so I can access individual items?

I use the answer of frederic but this did not work in SQL Server 2005

I modified it and I'm using `select` with `union all` and it works

DECLARE @str varchar(max)
SET @str = 'Hello John Smith how are you'

DECLARE @separator varchar(max)
SET @separator = ' '

DECLARE @Splited table(id int IDENTITY(1,1), item varchar(max))

SET @str = REPLACE(@str, @separator, ''' UNION ALL SELECT ''')
SET @str = ' SELECT ''' + @str + ''' '

INSERT INTO @Splited
EXEC(@str)

SELECT * FROM @Splited

And the result-set is:

id item
1 Hello
2 John
3 Smith
4 how
5 are
6 you