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In this tutorial, the video explains how to hide placeholder text in content control form fields used to create forms. Placeholder text is typically displayed in light gray to prompt users to fill out the field, but it can be undesirable in some cases. To hide it, the presenter demonstrates using a form with plain text content control fields. The steps include entering design mode, highlighting the placeholder text (including the period), right-clicking to access the font options, and checking the "hidden" box under font effects. For more information on creating fillable forms, viewers are encouraged to check the playlist on the channel.