Textbox can be added for the main toolbar
Or "Label" can be found under Diagram Symbols → Basic Shapes.
To edit text in a textbox, either double click it, or select it then press F2.
When a text object is selected, the "Font Properties" tab allows you to change its size, color, and alignment.
Alignment and Color properties can only be applied to the entire text box.
If the schematic does not have sufficient space for a block of text, you might want to put it in the description.