Plugin to convert post text to parameterized URL?

I’m looking for a plugin that will convert some text in a post to a paramterized URL. The text can be marked-up in some user-friendly manner. So, I’d like a blogger to be able to type something like:

[*LED bulbs*] are very popular these days

and have that become something like

LED bulbs are very popular these days

I’m not interested in something designed for Amazon links. That was just an example to show the kind of thing I want. Also, I’d be happy if the required markup was different to the example I used—just as long as it doesn’t require the user to write HTML (the writers in this will be technophobic).

Seems like something that should already exist, but it’s not the easiest thing to search for.