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Excel templates can streamline the design and standardization of forms and reports, with hundreds of free options available for all users of Excel on both the desktop app and online. In this tutorial, viewers will learn how to find these templates and set up their own in Excel. To access the free templates, go to the File tab and select New, where users can browse by category or enter specific search terms to find templates, such as tracker templates. Clicking on a template thumbnail provides more details, including the developer's information, and users can navigate through additional templates. To download a desired template, simply click the "Create" button.