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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields. This light-gray text prompts users to fill in the fields, but it can be undesirable at times. The tutorial demonstrates using a form that incorporates plain text content control fields. To hide the placeholder text, the user selects "Design Mode," highlights the placeholder text along with the period, right-clicks, and chooses the "Font" option. In the font settings, there is a box labeled "Hidden" under font effects that can be checked to hide the placeholder text. The video also encourages viewers to check out other tutorials in the playlist for creating fillable forms.