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In this tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields, which is typically shown in light gray to guide users. To do this, the user should enter Design Mode, highlight the placeholder text (including the period), and right-click to open the font options. In the font box, the user can find a checkbox labeled "hidden" under the font effects. By selecting this option, the placeholder text will no longer be visible. The video encourages viewers to check out the playlist on the channel for more tips on creating fillable forms.