There is an off-by-one error: allocating room for a maximal result
string but without room for a trailing NUL.  That, can lead to
returning a transformed string that is not NUL-terminated, and
then to a caller reading beyond end of the malloc'd buffer.

Rewrite to s/kzalloc/kmalloc/, remove unwarranted use of strncpy
(the result is guaranteed to fit), remove dead strlen at end, and
change a few variable names and comments.
Reviewed-by: Josef Bacik <josef@redhat.com>
Signed-off-by: Jim Meyering <meyering@redhat.com>