Let assume you have have a file filedata.txt
with content:
d:\stuff\morestuff\furtherdown\THEFILE.txt
d:\otherstuff\something\otherfile.txt
You can read and split the file paths:
>>> for i in open("filedata.txt").readlines():
... print i.strip().split("\\")
...
['d:', 'stuff', 'morestuff', 'furtherdown', 'THEFILE.txt']
['d:', 'otherstuff', 'something', 'otherfile.txt']