is there a way to create a text file of everything on your itunes on your computer?

File > Export Song List

i did that, but it didnt come out exactly readable. any ideas?

If you dont like the XML or plain text formatting you can select all the songs in your iTunes library, and copy and paste the text into notepad. It will still he a little nutty formatting and you would have to do some work with it.
I'm not sure there is really an easy way to do what I think you want.
If it was me, I'd export the song list as XML, and then apply styling to it to get it formatted.

thanks buggy!