How do I get to the features that allow me to replace a link in a linked word?

I am updating last year's form. I need to replace the web link on a word with a new link. Where do I find the features like Bold, Italics, and insert LINK?

Hello,

You may add hyperlinks to your form using Text element. It allows adding some html codes, so it is also possible to style the links as buttons or to apply other formatting like bold, italics etc:

Please let us know if you need any further assistance with this.

Thank you. When I click on the paragraph to be edited, then click on Text as you indicated to get the various functions, the box jumps down to an empty space and I cannot get it to stay put on the text I want to edit.

In some other parts of the form, when I click on the section to be edited, a little pencil icon pops up on the right side, to edit, and clicking on that pencil icon opens the functions like bold, italics, etc. Why does this not happen for all sections of the form?

I see. My apologies for the confusion. To edit existing link or text on form, please click the 'pencil' icon. I have recorded a shirt screencast for you:

Yes, your above example I knew. But if I want to use bold in the section under "Participation Types," when I click on that box, no pencil icon appears to the right. If I click on Form Elements, then Text, the box jumps down below the Participation Types section and opens a new/empty box.

How do I edit with bold/italics/insert link in the Participation Type section?

When you are on a form builder you can easily see the edit text option for the field when you tap on it. 

Please clear your browser cache and re-login to your JotForm account if this is still an issue for you.