To make a link to another Web site, simply highlight the text that you would like to make a link and click on the link icon in the toolbar.
This will bring up a dialog box where you can easily paste or type in the address. I recommend setting the target to open a new window so the web user stays on your site. Title and class are not required, just click Insert and the text becomes a link.
To make remove the link you can also highlight the text and click the unlink icon.