Definitely use a database. It:
- easier to query (just use the MySQL PHP library instead of trying to parse the text)
- easier to maintain (there are many great database management tools)
- faster [1]
[1] In your situation, the database can be much faster, because it seems that you will be doing a lot of reading. Some database systems cache frequently used queries for quick response.
A text file has its advantages (for example, it may be easier to back up, the search for words in a text file is not susceptible to SQL injection attacks). However, if they are executed correctly, the database is much more suitable for something like that.
source share