From your admin go to System->Configuration-> select Developer from the Advanced section then go to Translate Inline panel and set the option Enabled for Frontend to “Yes”. Put your IP address in the Developer Client Restrictions panel in the Allowed IPs field. Now refresh and hover the mouse over the text you want to edit. You will see a small button appearing. Click on this button and you will pop out a settings window. From this settings window you can change the text. When you are done editing your text, clear the cache, refresh your site and disable back the tool.