For Better Performance :

Using clob : use this when your use case is to a) retrieve entire text in one step b) edit large sections of text c) less frequent edits or updates to text.

Note : storing information to clob is easy and simple as it is a single step process .

Using splitting approach and placing in varchar : use this when your use case is to do a) frequent smaller edits to text or to smaller sections of the text.

Note : Saving by splitting and placing in varchar and combining while retrieving might cause complexities.