If you are looking for an extremely easy way to both cloak and catalog your affiliate and referral links, then you should probably take a look at Dew-NewPHPLinks. You can choose to have the directory automatically cloak your links. It seems that the Dew-NewPHPLinks site no longer exists at the present time, but many web hosts, especially those with cPanel, have provided users with automatic installation of the Dew-NewPHPLinks script. But maybe not anymore? Perhaps you will have to find the script in a repository.