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In this video tutorial, the presenter explains how to hide the placeholder text in content control form fields, which appears as light-gray prompts for users. To demonstrate, they use a form featuring plain text form fields and enter design mode. The presenter highlights the placeholder text, ensuring to include the period, right-clicks the selection, and accesses the font settings. They point out the "hidden" option under font effects, guiding viewers on how to make the placeholder text invisible. Additionally, they encourage viewers to check the playlist for more tutorials on creating fillable forms.