The most common thing people do is change the color to match the background. You could set it to display:none; but I doubt you'd get juice from it. If you wanted to be technical you could use php to recognize the user agent and only show the link to bots, but that will definitely get you penalized.
HTML Code:
<a href="http://www.google.com" style="display:none;">Google</a>
You could also cover it with a solid color div.
Quick example (dirty code)
HTML Code:
<div><a href="http://www.google.com">Google</a></div>
<div style="float:left; background-color:#ffffff; width:75px; position:relative; top:-20px;"> </div>
Or move the link outside of the visible area:
HTML Code:
<a href="http://www.google.com" style="position:absolute; top:-20px;">Google</a>
I never needed to hide a link so I'm not sure if any of these ideas actually work.
Cheers!
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