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In this video tutorial, the presenter explains how to hide placeholder text that appears in light gray when using content control form fields to create a form. This placeholder text prompts users to fill in the form field, but sometimes you may prefer it not to be visible. The tutorial demonstrates how to select the placeholder text, including the period, in design mode. After highlighting the text, the presenter instructs viewers to right-click, select the font option, and access the font effects to check the "hidden" box, effectively hiding the placeholder text. Viewers are also encouraged to check out the playlist for creating fillable forms on the channel.