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In this video tutorial, the presenter explains how to hide the placeholder text in content control form fields used to create forms. This placeholder text appears as light gray, prompting users to fill in the fields, but can be visually unappealing. To hide it, the presenter demonstrates an example form with a plain text content control field. They start by entering design mode, highlighting the placeholder text (including the period), and right-clicking to select the font option. In the font settings, the presenter highlights the 'hidden' checkbox under font effects, which allows the placeholder text to be concealed. Viewers are encouraged to explore a playlist on creating fillable forms on the channel.