Hmm.. well
$exploded01 = explode("\n",$fileVar);
$count = count($exploded01);
for ($i = 0; $i < $count; $i++) {
$exploded02 = explode(" ",$exploded01[$i]);
mysql_query("INSERT INTO table SET one='$exploded02[0]',two='$exploded02[1]'");
}
$fileVar is the incoming info from as you can guess, the file.