I am working on Drupal. I want to know how to change that footer text Powered by Drupal and link given to it. I want there \"Copyrights 2012 (My site name).All Rights reserved.\
This is a themable item, so you can add this to template.php
:
function MYTHEME_system_powered_by() {
return '' . t('XYZ Powered by Drupal', array('@poweredby' => 'https://www.drupal.org')) . '';
}
Don't forget to rebuild the cache to see the change take effect.