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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 Microsoft Word. This placeholder text, which is shown in light gray, prompts users to fill in the form field. The tutorial demonstrates using a form created with content control form fields, specifically a plain text form field. To hide the placeholder text, the presenter suggests entering design mode, highlighting the text including the period, right-clicking to open the font menu, and checking the "hidden" box under font effects. Viewers are encouraged to check the channel's playlist for more on creating fillable forms.