php will do this.
I am assuming this is for a website. I ask because you are posting in the computer hardware and software area.
Code:
<?php
$text="text";
$link="http://www.website.com";
$display="<a href=\"$link\">$text</a>";
echo "$display";
?>
We could give you a better answer, but we need a little more information to work with.
Then again you could probably create a simple form where you could copy and paste the words and links and hit a submit button and have the hyperlinked words auto generated. That shouldn't be too hard to do.
Just pondering.
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