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In this tutorial, the video demonstrates how to hide placeholder text in content control form fields. Placeholder text appears in light gray to prompt users, but it can be undesirable for some. To hide the placeholder, the presenter uses a form with plain text content control fields. First, they select "Design Mode" and highlight the placeholder text, ensuring to include the period. Next, after right-clicking and selecting "Font," they explore the font effects options. One of the effects is "Hidden," which allows users to remove the placeholder text visually from the form while keeping the functionality intact. The tutorial encourages viewers to check out the related playlist for more on creating fillable forms.