My steering wheel used to "creak" when I would make a turn. Now the creaking has stopped but the steering wheel is/seems loose, you can actually move it up and down slightly and I'm not talking about the tilt. What do need to do to resolve this issue. I have a 1997 f-150 4.6 liter, 2WD the base model.

 

There is a Universal joint in the shaft at the top for tilt and below for alignment with the steering box.
A set bolt or clamp bolt may have come loose or was never tightened.
Good luck.

 

Check the pitman arm too. that's likely where the creak was coming from.