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In this tutorial, the presenter explains how to hide the placeholder text in content control form fields when creating a form. Placeholder text appears in light gray to prompt users, but it can be undesirable in some cases. The tutorial involves using a plain text form field as an example. First, the user enters design mode and highlights the placeholder text, ensuring to include any accompanying punctuation. Then, by right-clicking the selected text and choosing the font option, the user can access the font effects section where they can check the "hidden" box to hide the placeholder text. Viewers are encouraged to check the channel's playlist on creating fillable forms for further guidance.