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To create a link in a passage, select the text you'd like to use for the link and then choose Create Link, the first item on the Passage menu. This adds square brackets around the text you've selected, creates a new passage for the link to go to, and opens it for you for editing.
If you've already created a passage to match that text, the menu item will read Edit Passage instead, and will open the linked passage in a separate window.
If one of your passages contains a broken link – that is, it has a link pointing outward that does not have a matching passage – then an exclamation point emblem will appear on the passage on your story map, to warn you that there is a problem.
To remove a link, just delete the double brackets around the text.