Soundtrack panel can be used to adjust the start and the end of the word. This can be done in many ways.
To move the entire word click on the label and move it up and down. The word's duration will not be changed. The duration of the previous and the next word will be modified accordingly. You may not move the word earlier then the start of the previous word, and later than the end of the next word.
In this example you see mouse pointer on label 'good'.
To move the end of the word and the beginning of the next word position click and drag the word boundary (the red horizontal line).
In this example end of word 'a' and start of word 'good' would be adjusted.
To move the start/end of the word without moving the end of the previous/next word hold down the SHIFT, and then click and drag the word boundary.
Only the beginning of the word 'good' would be moved.
Only the end of the word 'good' would be moved.
To place a cursor over the label boundary keep the CTRL key down and click as if label was not there.