I went in today and was amazed to find about 20 links that did not work. Most were from bloggers who left comments on my site and have since left the blogging world. Now, since Blogger does not allow us to edit our comments, I end up going in and copying the original comment and then republishing it with the following comment: "Edited to remove dead link. Original comment posted on: (I give date and time)." When it happens to be a broken link, I go in and do the same thing, but this time I post it using the corrected URL. Today, I not only had to fix and remove links in the comments, but also in some of my articles. I went in and removed the link, then republished the post.
How do I find these dead links? Well, I use a free link checker I found through my Profit Lance course (yes, I broke down and took the course a year or so ago). Even though it's free, it does a very good job of going through EVERY single link on your site. When you find one that is broken or dead, just highlight the link and right-click on properties. It will then tell you where you can find the link on your site.
If you run into any problems trying to remove the little guys, just let me know and I'll do my best to help you.
Xenu Link Checker