Comment on What is Anchor Text? by SEO Dave.
Since the title attribute is ignored by Google SEO wise doesn’t matter what you add to it, Google ignores it. Generally you’d use the title attribute as a place to add hoverover tips for usability reasons like a little more info what the link is to. This is also true for alt text of images except alt text is important SEO wise so also consider the SEO value.
The alt text (alt=”This is Like Anchor Text for Images and Hoverover Text”) is used as a ranking factor.
For non-linked images it’s like a text version of the image.
If you have a picture of a Foot and add alt text Foot, Google will rank the image and the page the image is on for Foot SERPs.
If you have a picture of a Foot and add alt text Hand, Google will rank the image and the page the image is on for Hand SERPs.
For linked images the alt text is both the text to describe the image and the anchor text for the link. Like anchor text of links the alt text of linked images is used as a ranking factor for the page the link is on and the link is linked to. It’s important SEO wise.