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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 fillable form. This placeholder text, displayed in light gray, prompts users to fill in the fields, but it may sometimes be undesirable to show it. The tutorial demonstrates the process using a plain text form field within a sample form. By switching to design mode, users can highlight the placeholder text (including any punctuation) and right-click to access the font options. In the font settings, users can check the "hidden" box under font effects to conceal the placeholder text. Viewers are encouraged to check out the channel's playlist for more on creating fillable forms.