Okay, the first one is your affilaite link, if you are going to cloak your link, that is what you cloak.
The second one is html code. If you use that on your site, all you will see is:
Click here!
you won't see the actual link. "Click here" will be your link. If you want it to say something else, just change the text to whatever you want it to say. You can cloak the second one as well by changing this part of the address:
http://xxxxxxxx.xxxxxx.hop.clickbank.net/ to your cloaked link and replacing it in the html code.
Does that make sense to you?
Kathy