You can do this in PHP, but you will need to write it bomb-proof if you want inexperienced users to be able to edit the text successfully. E.g. Your present suggestion appears to use just line breaks to delineate the heading, description and link, and separating one item from the next. That is likely to be succeptible to one stray line break f*****g up the whole list (not just one entry)!!! Oh, and bear in mind that MS Windows, Apple OS and Unix variants use DIFFERENT line termination codes!
Furthermore, word processors (instead of text editors) can, and do, sprinkle invalid characters throughout the so-called text file!!! Even in bits you did not edit!!!
Also, beware of more experienced user who may try to embed code in the text!!! Note: the latter may be done quite innocently, (e.g. adding <p> and </p> codes to split the text into multiple paragraphs) but can be malicious (which I will not give an example of)!!!
You have been warned!!!