You can add the href tags directly inside the text in your table. In this way I built this visualization: http://asdfgh.cartodb.com/u/crb/viz/a65ba046-be68-11e4-b0f6-0e4fddd5de28/embed_map

My infowindow configuration is as follows, without using Custom HTML:

Adding directly the HTML code in the columns would be the best approach if you're going to have different links in your text.
The other workaround would be splitting your text in as many columns you need in order to separate your "Text here LINK more text LINK text LINK" string as:
column1, LINK1, column2, LINK2, column3, LINK3
Text here, LINK, more text, LINK, text, LINK
which is not really a nice approach :-), but it would allow you to fix the href tags in the Custom HTML of the infowindows and insert {{link1}}
, {{link2}}
or {{link3}}
inside of them.