To put in a link to another page,  use:

[url=http://www.blogocrats.com/]Visit blogocrats![/url]

This would generate the following link, Visit blogocrats! Please notice that the link opens in the same window or a new window depending on the users browser preferences.

Remember to use the square brackets - and what comes after the = sign is the link, and between what is in red will be the text.