Tutorial used is "Adjust the space between letters" in Photoshop

Before image, demonstration

1. Select the layer named "live life at full".

2. Select the Horizontal Type Tool. If this tool is already selected, click another tool and then select it again.

3. Select Window > Character to open the Character panel

4. Locate the Kerning setting under the type size, but don't change it yet. After placing the cursor between two letters, you'll increase this value to add space and decrease it to subtract space. 

These options will not be filled in unless you have clicked between two letters.

5. Click between the i and v, adjust kerning, and repeat where needed. Alternatively, hold Alt or Option and tap the left or right arrow keys to adjust space. Then click the checkmark in the Options bar.

This text has a kerning of 10.

This text has a kerning of 200.

6. Click the layer named THROTTLE.

7. Repeat step 4, but this time with the Tracking setting.

For Tracking, you don't need to select the text.

This image was found free to use on Unsplash.com

- https://unsplash.com/photos/seashore-during-daytime-0Y-tc6hu5gg by Andrew Charney

- Horizontal Text tool

- Kerning and Tracking (Character window)