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In this video tutorial, the presenter discusses how to hide placeholder text displayed in light gray for users filling out forms created with content control form fields. Although this text serves as a prompt, the presenter provides a method to remove it. The example involves a form using plain text form fields. The process begins by entering design mode, followed by highlighting the placeholder text, including the period. After selecting the text, the viewer is advised to right-click and choose the font option, where they can find a checkbox labeled "hidden" under font effects to hide the placeholder text. The presenter encourages viewers to check out the playlist for more content on creating fillable forms.