I've found an excel formula that can accomplish what I need, but I'm curious if it can be done via saved search. I want to rearrange all characters in a field value so that they are in alphabetical order. For example: 'flashlight' and 'lightflash' would both end up being 'afghhillst'. With that result, I could then find "duplicates" that aren't necessarily something that can just be grouped and counted on in a saved search. Any ideas?

This sounds like you are trying to solve a data entry issue that could potentially be fixed with a custom list field instead

Yup, that's exactly what sparked my research. It's a list of custom records (and there are a ton)...users will add duplicates as well as new records with the values swapped around.