Using the parcolumns pacakge mentioned in the solution at How do I create parallel text aligned by paragraph? seems to work nicely.
Each section is to be placed within:
\begin{paracol}{4}
\end{paracol}
where the 4 is the number of columns. Then \switchcolumn[<n>], where <n> specifies the column (either 0, 1, 2, or 3 for the 4 columns) is used to specify that the text following is for that specific columns within the paracol environment.

Known Issues:
Code:
\documentclass{article}
\usepackage{paracol}
\usepackage{microtype}
\begin{document}
\begin{paracol}{4}\sloppy
\switchcolumn[0]\noindent
\textbf{Column 1 text:}
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed accumsan nulla ac ipsum elementum interdum.
Praesent ultricies faucibus turpis, non scelerisque nisi bibendum et.
\switchcolumn[1]\noindent
\textbf{Column 2 text:}
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed accumsan nulla ac ipsum elementum interdum.
Praesent ultricies faucibus turpis, non scelerisque nisi bibendum et.
Phasellus quis ultricies sapien.
\switchcolumn[2]\noindent
\textbf{Column 3 text:}
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
\switchcolumn[3]\noindent
\textbf{Column 4 text:}
Integer iaculis nibh at orci hendrerit et elementum enim luctus.
\end{paracol}
\bigskip\hrule\bigskip
\begin{paracol}{4}\sloppy
\switchcolumn[0]\noindent
\textbf{Column 1 text:}
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed accumsan nulla ac ipsum elementum interdum.
Praesent ultricies faucibus turpis, non scelerisque nisi bibendum et.
\switchcolumn[1]\noindent
\textbf{Column 2 text:}
Lorem ipsum dolor sit amet, consectetur adipiscing elit.
Sed accumsan nulla ac ipsum elementum interdum.
Praesent ultricies faucibus turpis, non scelerisque nisi bibendum et.
Phasellus quis ultricies sapien.
Aliquam venenatis dolor libero, a dignissim nisi.
In ut magna a erat blandit facilisis.
Nulla vitae urna et nisl dignissim condimentum condimentum vitae mi.
Donec sed eros id nibh posuere posuere
\switchcolumn[3]\noindent
\textbf{Column 4 text:}
Integer iaculis nibh at orci hendrerit et elementum enim luctus.
Nulla varius mauris adipiscing libero vulputate condimentum. Suspendisse porta consequat neque, tincidunt fermentum risus aliquet ac.
Curabitur sed dui orci, eget rutrum quam.
Suspendisse potenti.
\end{paracol}
\end{document}
It is always best to compose a fully compilable MWE that illustrates the problem including the
– Peter Grill Nov 29 '11 at 01:21\documentclassand the appropriate packages so that those trying to help don't have to recreate it.