How do you handle translation of text with markup?

Question

I\'m developing multi-language support for our web app. We\'re using Django\'s helpers around the gettext library. Everything has been surprisingly easy, except for the ques

Answer 1

1. Makes no sense, how would you translate "log in"?
2. I don't think many translators have experience with HTML (the regular non-HTML-aware translators would be cheaper)
3. I would go with option 3, or use "Please %slog in%s to continue" and replace the %s with parts of the link.