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In this tutorial, the speaker explains how to hide the placeholder text that appears in content control form fields, which is typically displayed in light gray to prompt users. To hide this text, the process begins by selecting "Design Mode." The user then highlights the placeholder text along with the period at the end. After highlighting, they right-click the selected text and choose the "Font" option. In the font settings, there's an option under "Font Effects" labeled "Hidden," which can be checked to conceal the placeholder text. The tutorial also encourages viewers to check out the related playlist for creating fillable forms.