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In this tutorial, the presenter explains how to hide placeholder text in content control form fields when creating forms. The placeholder text appears in light gray to prompt users, but sometimes users may prefer it not to be visible. To hide the placeholder, the tutorial demonstrates the steps involved. First, the user selects "Design Mode" in the form. Then, they highlight the placeholder text, ensuring to include any punctuation. After selecting the text, the user right-clicks and chooses the "Font" option. In the font settings, they will find a box labeled "Hidden" under font effects that can be checked to hide the placeholder text. The video encourages viewers to explore additional resources in the channel's playlist on creating fillable forms.