Line spacing brings the style and readability of the web fonts and content displayed on a page. There is a direct correlation between the length of a text line and the width for spacing. For longer passages, a wider spacing makes it easier on the eye. Alternatively, short blurbs with tight spacing draw attention to the reader.
In most cases, letter spacing should not be considered since it is not cross browser friendly. However, web designers may want to use it for short, attention grabbing headings. To get around incompatibility issues, spaces between letters can be controlled by creating images with graphics software.
Word spacing should not be adjusted. If you find that your text requires adjustments in this manner, you should reconsider the web font for your page.