I think a way to go is Mergesort, it's a great algorithm for sorting a large amount of fixed records with limited memory.
General idea:
read N lines from the input file (a value that allows you to keep the lines in memory)
sort these lines and write the sorted lines to file 1
repeat with the next N lines to obtain file 2
...
you reach the end of the input file and you now have M files (each of which is sorted)
merge these files into a single file (you'll have to do this in steps as well)
You could also consider a solution based on an embedded database, e.g. Firebird embedded: it works well with Delphi/Windows and you only have to add some DLL in your program folder (I'm not sure about Lazarus/OSX).