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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields, which can sometimes be undesired. The tutorial demonstrates this process using a form with plain text content control fields. First, the user is instructed to enter design mode, highlight the placeholder text along with the period, and then right-click to access the font settings. In the font options, the user should check the "hidden" box under font effects to make the placeholder text invisible. Viewers are encouraged to check out the channel's playlist for additional tutorials on creating fillable forms.