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In this tutorial, the video demonstrates how to hide placeholder text in content control form fields within a form. Placeholder text appears in light gray to prompt users to fill in the fields, but there may be instances when you prefer not to display it. The process begins by selecting 'Design Mode' within the form. After highlighting the placeholder text, including the period, you can right-click and choose 'Font.' In the font settings, you will find an option under 'Font Effects' labeled 'Hidden,' which will allow you to hide the placeholder text effectively. The video encourages viewers to check out the channel's playlist for more about creating fillable forms.