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In this tutorial, the presenter explains how to hide the placeholder text that appears as a light gray in content control form fields, which prompts users to fill in the form. They demonstrate this by using a plain text form field in design mode. To hide the placeholder text, the presenter highlights it, including the period, right-clicks, and selects the font option. Within the font box, they point out the 'hidden' checkbox under font effects, which allows users to conceal the placeholder text. Users are encouraged to explore additional videos in the playlist dedicated to creating fillable forms.