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A PowerShell script is simply a text file with a .ps1 extension that contains a list of commands PowerShell should execute. However, PowerShell's secure by default philosophy prevents all scripts from running, so double-clicking a PowerShell script from Windows Explorer won't execute it.
PowerShell doesn't have a native cmdlet for replacing strings in files, but you can use Replace-FileString.ps1 to fill this void. This script makes it easy to replace strings in one or more files using regular expressions.