How to edit or hide "Thank you for creating with WordPress" link in WordPress admin pages?

If you are a WordPress website admin, you might have noticed that there is a link in every admin page - "Thank you for creating with WordPress"  - at the bottom. Now if you have created website using WordPress, it is okay to give a little credit. But this link is visible only to admins and not to visitors. So it is actually useless. In this post, we shall see how to change or edit the "Thank you for creating with WordPress" link in WordPress admin pages.