How to replace text defined in a given tag or element using xslt, xslt string replace

Please help me with this xslt transformation.

Source Xml

<xml>
 <test>This is a <bold>sample</bold> description. Please help me with a sample</text>
</xml>

Expected Output: This is a sample description. Please help me with a sample

I just need to make bold only the specified text by the xml markup.

Thank you

This transformation:

<xsl:stylesheet version="1.0"
 xmlns:xsl="http://www.w3.org/1999/XSL/Transform">
 <xsl:output omit-xml-declaration="yes" indent="yes"/>

 <xsl:template match="text">
   <p>
     <xsl:apply-templates/>
   </p>
 </xsl:template>

 <xsl:template match="bold">
   <b><xsl:apply-templates/></b>
 </xsl:template>
</xsl:stylesheet>

when applied against the provided XML document:

<xml>
 <text>This is a <bold>sample</bold> description. Please help me with a sample</text>
</xml>

produces the desired result in HTML:

 <p>This is a <b>sample</b> description. Please help me with a sample</p>