Manage your links
WordPress allows you to store a set of external links, also known as your blogroll. These links can be put into categories, imported, exported, added, deleted, and edited. The link categories can also be added, deleted, and edited. This article describes how to do all of the above, using the Links section of the WordPress Administration Panels.
More info: http://codex.wordpress.org/Links_Manager
Video:
Organizing your links into categories
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