Yes, all shouts involve 3 words.
Here is releveant information on the words:
You can learn thu'um words even if you dont have dragon souls.
However dragonsouls are needed to activate a shout word.
The player can choose to only vocalize part of a dragon shout which will lower the recharge time of the shout but cause the shout to be weaker. In an interview Todd Howard said every shout has 3 words and there is 1 word per word wall.
So, there are three states for a word:
Invisible: The word hasn't been learned nor activated.
Grayed out: The word has been learned, but not activated yet.
White: The word has been learned and been activated.
Here is a full list of the 24 dragon scouts:
FUS RO DAH: Force Balance Push (Unrelenting Force)
IIZ SLEN NUS: Ice Flesh Statue (Ice Form)
STRUN BAH QO: Storm Wrath Lightning (Storm Call)
YOL TOOR SHUL: Fire Inferno Sun (Fire Breath)
TIID KLO UL: Time Sand Eternity (Slow Time)
WULD NAH KEST: Whilwind, Fury, Tempest (Whilwind Sprint)
RAAN MIR TAH: Animal, Allegiance, Pack (Animal Allegiance)
SU GRAH DUN: Air, Battle, Grace (Elemental Fury)
FIN ZI GRON: Fade, Sprint, Blind (Become Ethereal)
FO KRAH DIIN: Frost Cold Freeze (Frost Breath)
ZUL MEY GUT: Voice Fool Far (Throw Voice)
ZUN HAAL VIIK: Weapon, Hand, Defeat (Disarm)
LOK VAR KOOR: Sky Spring Summer (Clear Skies)
HUN KAAR ZOOL: Hero Champion Legend (Call of Valor)
JOOR ZAH FRUL: Mortal Finite Temporary (Dragonrend)
KRII LUN AUS: Kill, Leech, Suffer (Marked for Death)
LAAS YA NIR: Life, Seek, Hunt (Aura Whisper)
OD AH VIING: Snow Hunter Wing (Call Dragon)
KAAN DREM OV: Kyne, Peace, Trust (Kyne's Peace)
FAAS RU MAAR: Fear Run Terror (Dismaying Shout)
SLEN TIID VO: Flesh, Time, Undo (Ressurect Dead Dragon, not available to player, Alduin)
N/A: N/A (Meteor Swarm, not available to player, Alduin)
FIIK, LO, SAH: Mirror, Deceive, Phantom (N/A, not available to player, Greybeards)
VEN, MUL, RIIK: Wind, Strong, Gale (N/A, not available to player, Alduin)
— See Wikia - Elder Scrolls V: Skyrim - Dragon Shouts for more details.
