Choosing
Two different problems, two answers
The question is not which is better, but what you will do with the result a minute later.
Choose plain text
If you are going to search, quote, or pass the content to another tool. The file is light, any editor opens it, and nothing in it distracts.
Choose Word
If you are going to edit the document and send it on. Headings, tables and lists travel with it, which plain text does not promise.
When neither helps
If the original is a scan, there is no text underneath. The format will not change that, and the output is an image either way.
Where this one runs
- Runs the page tools entirely in your browser: those files are never uploaded
The conversion to text happens on the server, and the result is held for sixty minutes.