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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields. While these placeholders appear as light-gray prompts for users to fill in the fields, there are instances where they may not be desired. To demonstrate the process, the presenter opens a form utilizing plain text content control fields, selects "design mode," and highlights the placeholder text along with the period. By right-clicking on the selected text and choosing "font," users can access the font effects box where they will find an option to hide the text. For more information, viewers are encouraged to check out the related playlist on creating fillable forms.