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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields in a form. The light-gray placeholder text guides users to fill in the form, but sometimes it can be undesirable. To hide the placeholder, the presenter demonstrates selecting the text in design mode, ensuring to include the period. After highlighting the text, a right-click opens the font options, where users can check the "hidden" box under font effects. Viewers are encouraged to check out the channel's playlist for additional tutorials on creating fillable forms.