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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields, which appears as light-gray prompts for users. To demonstrate, they use a form with plain text content control fields. First, the presenter selects "Design Mode" and highlights the placeholder text, including the period. Then, by right-clicking and selecting "Font," they access the font box where an option to hide the text is available. Viewers are encouraged to check out the playlist on creating fillable forms on the channel for more related content.