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SFDC TechSFDC Tech 

Impacts of enabling single sign on?

What are the impacts of enabling single sign on in an org?
Simon ReparSimon Repar
There is no impact in terms of accessibility to your org. If you decide, you can disable it afterwards, it is completely reversible. But there is one case, when you can accidentally disable login for your users. IF you are looking towards Delegated SSO (you must log a case to SF to enable it) and set "is single sign-on enabled" to true on a profile, you will disable login through salesforce default login form. Link (https://help.salesforce.com/HTViewHelpDoc?id=sso_delauthentication_configuring.htm&language=en_US).

Any way, there is a very comprehensive documentation about single sign-on in general. Please take a look. 
SFDC TechSFDC Tech
In our Salesforce org , in opportunity layout we have a Custom link that directs to an internal application which is basically a login page.
Since that application uses the same salesforce login credentials we dont want the users to enter the username and password again and want them to be able to use the same credentials and login directly without entering username ,password.

Can this be acheived through a Federated authentication in single sign on? if so how can we configure this particular hyperlink.