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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields, which prompts users to fill out that field. To demonstrate, they use a form with plain text content control fields. The process begins by entering design mode. Then, the presenter highlights the placeholder text, ensuring the period is included. After selecting the text, they right-click and choose the font option, where the font effects box contains a "hidden" checkbox that can be selected to conceal the placeholder text. The video encourages viewers to check out the related playlist on creating fillable forms.