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In this tutorial, the presenter explains how to hide the placeholder text that appears in light gray within content control form fields. This feature can be undesirable for some users, and the video demonstrates a method to conceal it. The example uses a plain text form field within the content controls. To hide the placeholder text, the user needs to enable design mode, highlight the placeholder text (including the period), right-click, and select the font options. In the font dialog, the user can check the box labeled "hidden" under font effects to successfully hide the placeholder text. The tutorial invites viewers to check the playlist for more on creating fillable forms.