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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields, which appears as light gray and prompts users to fill in the form. To do this, the presenter demonstrates the use of design mode in a form created with plain text content control fields. After selecting the placeholder text, including the period, users can right-click and choose the font option. In the font effects box that opens, there is a checkbox labeled "hidden," which, when checked, will conceal the placeholder text. Viewers are encouraged to check out the playlist on the channel for more tutorials on creating fillable forms.