use varchar(max), or whatever length limit is appropriate.
otherwise, the only real concern is that you might want to make sure the html is html-encoded before you stick it in the database. (i.e., replace <
with <
, etc.) Not sure what you're using, but some tools have a setting so you don't have to do it manually.
other things you can do besides / in addition to html-encoding
1) restrict the formatting tags to some pre-defined set (i.e., search/replace tags you don't want before doing the insert. You can manage this in your db stored procedure, or better yet, in your front-end (if you have control over that).
2) disqualify attempts to insert data if they include certain tags (like '<script>
', etc.)