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In this video tutorial, the speaker demonstrates how to hide the placeholder text that appears in content control form fields, which is typically shown in light gray to prompt users to fill in the field. To achieve this, the speaker first creates a form using plain text content control form fields. After entering design mode, the speaker highlights the placeholder text, including the period, and right-clicks to select the font options. In the font effects section, there is an option to hide the selected text. Viewers are encouraged to check out the playlist on the channel for additional tutorials on creating fillable forms.