Broken Links have bad effect on SEO and bad impact on your site's visitors.
If you are running a wordpress site then broken link checker is recommended for this purpose. I would suggest unlinking all the broken links and link text should also be removed done if its in the written form on your site.
Clicking on such links, blog readers go to non-existing pages or try to download files that are no longer there. After going nowhere, visitors usually rarely return to your site. You lose readers.
Broken links are seen by the search engines, and when the number of such links on your blog reaches a certain limit, your site begins to sink in the search results, i.e. he loses his position, descends lower in the results of search engines, and if nothing is done, the site can get banned and finally fly from the search. The influx of visitors from search engines to your blog will stop.