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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields. The placeholder text appears in light gray to prompt users, but can be undesirable for some forms. The demonstration involves using a plain text form field, activating design mode, and highlighting the placeholder text (including the period). After selection, the presenter right-clicks and chooses the font option, where a checkbox labeled "hidden" can be found under font effects. This method effectively removes the placeholder text from view. Viewers are encouraged to check out the channel's playlist for more information on creating fillable forms.