I came across this question out on Yahoo answers and thought I would take a moment to answer it here. Link is a short version of the actual word hyperlink. Links are often used in blogs to help the reader to jump to another area of interest either inside or outside of the blog itself. A link can be attached to either text or images.
To Create a Text Link
Creating a text link is quite easy. If you can highlight text and type, you have the major skills necessary mastered already! Choose the word or phrase you wish to convert to a link and highlight the word or phrase by clicking and holding down the left mouse button at the beginning of the text and dragging the mouse to the end of the text and releasing the mouse button. The text is now highlighted. Next click on the insert/edit link button in the toolbar above the post.
Then type the URL (address) to the destination for the link and click on the blue Add Link button.
To Create an Image Link
Creating an image link is similar to creating a text link. Once you have the image embeded into your post, simply click on the image and you will see two buttons appear. One looks like a mountain and is used to edit the image, we’ll be using this one. Click on the button with the mountain on it and you should see a pop-up that looks like this:
In the “Link URL” field, delete the destination link of the current image and type the destination link and click on the Update button. You can now update your post by clicking on the blue update button.
Testing your links is a good idea so that you can ensure that they will take your reader to the proper place. Once, you’ve updated your post, simply open a separate browser window, go to the post with the link you want to test and click on the link and see where you’ve been taken by the link. If you arrive at the correct place, you have place the link correctly. If you do not arrive at the correct place, go back into your post, then look for errors in the destination URL. Once the errors are found and corrected, click on the Update button again and retest. Repeat until done.