Assign text to the "more" button

I’ve been wondering how to assign some text to the “more” (<!–more–>) tagline in wordpress.

I mean, I’ve seen wordpress websites which have a text like “read more…” For eg. iFans.com and if we click on it, it opens up the entire post. Interestingly though, the “read more…” text disappears when we open up the entire post.

Please help me out with this. I’m very familiar to the more (<!–more–>) tag and have been using it a lot. I’ve tried editing the more tag (<!–more–>) in HTML to something like this “<!–more Read more…–> but haven’t had any luck.

It would be very convenient if someone could recommend me a plugin so that I don’t have to edit the more tag in HTML every time I want to assign text to it.

Thanks!