Hide "View All Site Content" link for anonymous users in SharePoint WSS 3.0

This solution requires you to install Microsoft Office SharePoint Designer.

1. Go to "Site Actions" ==> "Site Settings"
2. Under Galleries, click on "Master Pages"
3. Select default.master and select "Edit in Microsoft Office SharePoint Designer".
4. In "Design" view locate "View All Site Content" on the left-hand-site navigation bar and click on it.
5. Go to "Code" view. You will see the following code highlighted:

<Sharepoint:SPSecurityTrimmedControl runat="server" PermissionsString="ViewFormPages">
<div class="ms-quicklaunchheader">
<SharePoint:SPLinkButton id="idNavLinkViewAll" runat="server" NavigateUrl="~site/_layouts/viewlsts.aspx" Text="<%$Resources:wss,quiklnch_allcontent%>" AccessKey="<%$Resources:wss,quiklnch_allcontent_AK%>"/>
</div>
</SharePoint:SPSecurityTrimmedControl>

6. Change the PermissionString attribute value of the Sharepoint:SPSecurityTrimmedControl XML element from ViewFormPages to BrowseDirectories.
7. Save the default.master. If you login as an anonymous user you will not see the "View All Site Content" link. However when authenticated you will see this option.

NOTE: The "BrowseDirectories" permission is common to both the "Members" and "Owners" group permission levels, but is not set for the "Limited Access" (anonymous users) permission level. See a complete list of the SPBasePermissions Enumeration here.