15 Jul 07 1:56 am
Anchor text are the words that are clickable. They are the words that when clicked upon, take a visitor to your site. The more links with your "desired" anchor text, the higher chance you have of ranking for those words.
Like Sean said, take out a day and go through and watch the videos on SEO. It will answer all of these questions for you. It sounds like you haven't watched the videos? They are helpful and there for a reason! :D