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In this tutorial, the presenter explains how to hide placeholder text that appears in light gray within content control form fields in a form. This placeholder text prompts users to fill in the fields, but it can be undesirable for some users. The process involves entering design mode, selecting the placeholder text (ensuring to include the period), right-clicking to access the font options, and checking the "hidden" box under font effects to hide the text. Additionally, viewers are encouraged to explore the playlist on the channel for more tutorials about creating fillable forms.