A hyperlink field consists of up to four parts, each separated by a pound sign (#). These parts are:

Display Text: The text that appears in the field, which users see and click on.
Address (URL or File Path): The URL or file path where the hyperlink points. This is the actual destination.
Subaddress: The location within the target document (optional). For example, in an Excel file, this could be a specific cell or sheet.
ScreenTip: The text that appears when you hover over the hyperlink (optional).

Hyperlinks

It is much better to store Hyperlinks (including email addresses) as Short Text.