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In this video tutorial, the presenter explains how to hide the placeholder text in content control form fields within a form. The light-gray placeholder text prompts users to fill in the fields, but if you prefer not to display it, there is a method to remove it. The presenter demonstrates by selecting the form field and enabling design mode. They then highlight the placeholder text, including the period, right-click to open the font options, and check the "hidden" box under font effects to hide the text. Viewers are encouraged to explore the channel's playlist focused on creating fillable forms for further guidance.