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In this tutorial, the presenter explains how to hide the placeholder text in content control form fields within a form. The placeholder text usually appears as light gray, indicating where users should fill in information, but it can be undesirable in certain cases. To hide it, the presenter demonstrates selecting the design mode, highlighting the placeholder text, including the period, and right-clicking to open the font options. Within the font effects, there is a checkbox labeled "hidden" that can be selected to remove the visibility of the placeholder text. The tutorial encourages viewers to check out the playlist for more on creating fillable forms.