It is easy to set a paragraph to use a hanging indent if you know one trick. But you can go much further with different techniques such as using rulers, creating reusable style, using specific text in bullet lists, or inserting text boxes. You can also set your footnaotes and endnotes to use hanging indents which is needed for many report styles.
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Another method of be tables without any (or white) borders.
Check your description:
"You can also set your footnaotes "