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In this tutorial, the presenter explains how to hide placeholder text in content control form fields. The light-gray placeholder text prompts users to fill in the form but may not always be desired. The video guides viewers through the process using an example form created with plain text form fields. To hide the placeholder text, users need to enter design mode, highlight the placeholder text (including any punctuation), right-click, and select the font options. In the font effects section, there is an option to hide the text. Viewers are encouraged to check out the related playlist for more on creating fillable forms.