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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields within a form. Placeholder text typically appears in light gray to prompt users to fill in the field but can be undesirable in some cases. The tutorial demonstrates the process using a plain text form field. The steps involve enabling design mode, highlighting the placeholder text (including any punctuation), right-clicking to access the font settings, and checking the "hidden" option in the font effects. Viewers are encouraged to explore the channel’s playlist for more information on creating fillable forms.