1. A method for correcting spelling of at least one candidate word, said method comprising: obtaining at least one variant dictionary hash table based on variants of a set of known correctly spelled words, wherein said variants are obtained by applying one or more of a deletion, insertion, replacement, and transposition operation on said correctly spelled words, wherein said variants obtained by applying one or more of an insertion and replacement operation on said correctly spelled words comprise a wildcard character, wherein for a given correctly spelled word having a length W, said at least one variant dictionary hash table comprises W of said variants each comprising said wildcard character in a different position, and wherein said variants are stored in said at least one variant dictionary hash table and are mapped to one of said corresponding correctly spelled words from said set of known correctly spelled words which are stored in a dictionary hash table that is distinct from said at least one variant dictionary hash table; performing one or more of a deletion, insertion, replacement, and transposition operation on the at least one candidate word to obtain one or more lookup variants, wherein said lookup variants obtained by applying one or more of an insertion and replacement operation on said at least one candidate word comprise a wildcard character; evaluating one or more of said lookup variants utilizing said at least one variant dictionary hash table to identify matches; and indicating a candidate correction if said evaluation step indicates that there is at least one match in the at least one variant dictionary hash table.