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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, which often appears as light gray to prompt users. To demonstrate, the presenter has created a form using plain text content control fields. The process involves selecting "Design Mode," highlighting the placeholder text (including the period), right-clicking the selection, and choosing "Font." In the font effects options, there is a checkbox for "Hidden" that can be utilized to hide the placeholder text. Viewers are encouraged to check out the playlist for more on creating fillable forms.