After reading different point of views and experimenting with solutions for months I finally decided to write a wordpress tutorial about what seems to be the right way of implementing WordPress`s TinyMCE in your plugins. I`ve tried every possible known way and they either didn`t work or broke every editor in the site.

Most of the posts i read recommended using wp_tiny_mce()…however the function is deprecated and after some of the following wordpress updates will be totally cut out of the distribution. I`ve also faced some significant trouble using it…I defined different name for the textbox which caused the editor on all sites in a multisite network to stop showing the buttons in the visual tab. Took me days to figure out that that was causing the problem.

Now the right way:
In order to use the wordpress editor in your plugins insert:

<?php wp_editor( $content, $editor_id, $settings = array() ); ?>

in the form where you need your editor placed in. I have no intention of posting details about the function because they`re available in the Codex.

You can check the function reference here.