I know the shortcut for entering a date in Word is Alt+Shift+D, but I don’t know how to change the way the date is displayed. I want the date format to be March 19, 2009, not 3/19/09.
You can change the default by clicking on Insert, Date and Time, which produces this screen:
Then select the format you want and click on Default. The default format for time, whose shortcut keys are Alt+Shift+T, can be adjusted the same way.