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This video tutorial demonstrates how to hide the placeholder text in content control form fields when creating forms. The presenter explains that the placeholder text appears in light gray to prompt users, but sometimes it may be undesirable to show it. The steps involve using design mode to select the placeholder text, including the period at the end, then right-clicking to open the font options. In the font effects section, there is a box labeled "hidden" that can be checked to effectively hide the placeholder text. Viewers are also encouraged to check out the playlist on the channel for more information on creating fillable forms.