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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields, which is typically shown in light gray to prompt users. The tutorial specifically addresses using plain text form fields within content controls. To hide the placeholder text, the presenter demonstrates selecting the form field, entering design mode, highlighting the placeholder text (including the period), right-clicking, and choosing the font option. In the font settings, the presenter points out the "hidden" box under font effects, which will effectively remove the placeholder text from view. The video invites viewers to explore a playlist on creating fillable forms for further learning.