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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields in Microsoft Word. The light-gray placeholder text prompts users to fill in the form, but it can be undesirable for some. To hide this text, the presenter demonstrates selecting the placeholder text while in design mode, including the period at the end. After highlighting the text, users should right-click and select "Font." In the font options, they can check the box labeled "Hidden" under the font effects to make the placeholder text invisible. Viewers are encouraged to check the playlist on the channel for more information on creating fillable forms.