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The tutorial explains how to hide the placeholder text in content control form fields within a form. This placeholder text appears as light-gray, prompting users to fill in the form. To hide it, users can enter design mode, highlight the placeholder text (including the period), right-click, and select the font option. In the font effects section, there is a checkbox labeled "hidden" that can be selected to make the placeholder text invisible. Viewers are encouraged to check out the channel's playlist for creating fillable forms for more information.