I'm looking to maintain a couple of reels. I've usually taken them apart and clean with rubbing alcohol and and oil and grease. This time I would like to complete tear down and give them a good cleaning before adding lube. Before doing that I need a little help with taking apart the levelwind worm gear. what's the best way to take out the worm gear for cleaning? Also would soaking the reel parts and bearing in alcohol or simple green be good enough?

Sort of depends on what baitcaster you're talking about.  All of them can be disassembled, of course, but some have small precision fitted parts that can be a chore to get back together.  On later model Shimanos, for instance, you have to assemble the levelwind tube with the parts inside and its plastic gear in place, stick it through the hole in the frame, through the levelwind pawl, through the other side of the frame, and secure the whole thing with a small brass washer and a small E-clip while keeping tension on the assembly so it doesn't slip out of alignment.  Doesn't take a rocket scientist but it's sort of finicky to do without practice.  I like naphtha to clean parts because it works fast, won't harm plastics, evaporates fast, and then you can lube and put the parts back together without waiting for the soaking/drying time needed if you use a detergent like Simple Green, etc.  Water based alcohols won't dissolve petroleum based oils and grease very well. 

You don't make mention of the reel make/model.

First thing you need to do is get a copy of the reel schematic in-front of you.

It is better to use hot Simple Green instead of any alcohol.

I would use any degreaser that is non carcinogenic (naphtha is a carcinogen).

There are safer degreasers out there like Birchwood Casey® Reel Scrubber..

Tight Lines!

Yes, definitely have a schematic in front of you before you open any reel. Keep in mind that the schematic shows parts and where they go, but not necessarily the order of dis-assembly and reassembly. Also depending on the schematic, part descriptions are sometimes less than crystal clear. Give yourself plenty of time, a well lit and organized work space and take notes and/or photos along the way.

Regarding the schematic, if you don't have one, they can often be downloaded from the reel manufacturer's web site or other sites on the web. If you do have a paper schematic, one thing that I do that is very handy is to scan the schematic (if you have a scanner) at a high resolution and then have that image on my monitor as I work on the reel - the parts are much easier to see on the enlarged image. I also edit the scanned image to add notes about parts orientation, bearing sizes, etc.

Also, some schematics don't do a good job of showing orientations so carefully observe each part as you remove it.

Finally, if you have a digital camera - take high-res photos of the reel at each stage of disassembly - very handy later when you are reassembling.

Thanks for all the tips and help. I usually do have the schematics nearby and take pictures when I'm not sure. I apologize for not mentioning the reels. They're a shimano curado 201d and a shimano chronarch d7. You all have been very helpful. But, with taking off the levelwind do I take the E clip off first? And if so, what's the best way to?

Go to Shimano.com, click on "Customer Service", then click on "Reel Maintenance".  I don't know what kind of reel you have, but this should help.  If you do have a Shimano you can also see a schematic here.

If you want it done well and done right for a very reasonable price then send them to the Reel Mechanic.  John does a very good job.