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Adding hyperlinks in Microsoft Word allows direct access to websites and email addresses from your document. Word often auto-formats these as hyperlinks while typing. To edit the display text of an inserted hyperlink, right-click the link and select "Edit Hyperlink." In the dialog box, you can change the text in the "Text to display" field. After making changes, click "OK." To verify that the link still functions correctly, hold down the Ctrl key and click the link. This ensures it redirects to the intended website, demonstrating that changing the display text is a simple process.