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In this tutorial, the presenter explains how to hide placeholder text in content control form fields in a form. The placeholder text appears as light gray to prompt users to fill in the fields, but it can be removed if desired. To do this, the presenter demonstrates selecting the form field and entering design mode, highlighting the placeholder text to include the period, and then right-clicking to access the font options. In the font effects, there is an option labeled "hidden" that allows users to hide the placeholder text effectively. Viewers are encouraged to check out the playlist for additional tutorials on creating fillable forms.