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In this tutorial, the presenter explains how to hide placeholder text in content control form fields, which typically appears gray to prompt users. To do this, the user needs to enter design mode and select the placeholder text, ensuring to include any punctuation. After highlighting the text, they right-click and choose the font option. In the font settings, they can check the "hidden" box under font effects to conceal the placeholder text. The tutorial mentions that viewers can find more related content in the channel's playlist on creating fillable forms.