A moment ago someone answered my question on how to edit the combobox loaded with a text file, and how to save the recently edited line.
C#: Real-time combobox updating
The problem now is that I can only change one letter before it updates, and then the selectedindex changes to -1, so I have to select the line I was editing again in the dropdown list.
Hopefully someone knows why it's changing index, and how to stop it from doing that.