To state the options for the original question:
How to get
<a href="http://some.url">blah</a>
Simple named hyperlink:
Use a simple hyperlink reference and target.
The target can be used for more than one reference to the same URI.
How to get blah_.
.. _blah: http://some.url
Named hyperlink with special chars or multiple words:
Use a phrase reference and target.
The target can be used for more than one reference to the same URI.
`How to get blah`_.
.. _How to get blah: http://some.url
If a long link text is used just once or if the same link text is used for links to different URIs:
Use an anonymous hyperlink (you need one target for every reference):
How to get blah__ or `how to get blah`__.
And now for something completely different (blah__).
__ http://some.url
__ http://some.url
__ https://another.url
Keep reference and target in one place:
Use an embedded URI (named or anonymous).
`How to get blah <http://some.url>`_.
How to get `blah <http://some.url>`__.
A reference with custom link text to an existing named target:
Use an embedded alias (named or anonymous).
`How to get blah <blah_>`__.
.. _blah: http://some.url