This affiliate link cloaker tool hides those ugly parameterized links that users see in the browser status bar when the mouse is held over a link. With this tool, webmasters can make links that end like this: ?affiliateid=9999999&sid=99999999 appear as a clean text link. This way, users will not be distracted by the link parameters in your quality affiliate link. Simply fill in the fields below and click “Get Cloaked Link,” then paste the link code from the output into your HTML code. Be sure and test the link before you deploy!
*The nofollow attribute prevents some search engines such as Google from giving the link ranking “credit” in search results. Source: Google Blog.