Texts from various ebook formats, such as LIT format from Microsoft Reader, can be usually exported and saved in any of common text document formats. You just need to find and use some tool that allow this conversion. We know that there was once a program called ABC Amber LIT Converter that was specially designed to export and convert .lit ebooks.
Convert Microsoft Reader eBook to Microsoft Word 97 to 2003 document.
We found one software available in the database for this conversion.
Microsoft Windows software - convert lit to doc on Windows
A document conversion software
Convert from lit file format
The table with program actions contains information about what each program is capable of doing with their files. This may be a good pointer for further searches for certain file conversions and help you find the converter you are looking for if our search result is insufficient for you. However, it is far from perfect and may sometimes show results which are not really usable because of the nature of the software handles the files. So a conversion that appears as possible, just because of matched actions, may in fact not be possible.