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In this video tutorial, the presenter explains how to hide the placeholder text that appears as light-gray in content control form fields. This text prompts users to fill in their form fields, but sometimes it may not be desired. The tutorial includes a demonstration using a plain text form field within a form created with content control. To hide the placeholder text, viewers are instructed to enter design mode, highlight the placeholder text including the period, right-click, and select the font option. In the font box that opens, there is a checkbox under "font effects" labeled "hidden" that can be selected to conceal the placeholder text.