Customized URL's in Discussions?

Is there any way to post a URL with some control over it? Currently, it seems you can only paste it and just leave it at that, and then clicking on it launches a new tab or window. Is there a way for us to customize these so that it is a set of words or a word that is linked (instead of a long, messy link), and can we set it to open in the same page, instead of popping up a new window/tab?

Thanks!