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In this tutorial, the presenter explains how to hide the light-gray placeholder text that appears in content control form fields when creating forms. To demonstrate, they use a form with plain text content controls. The first step is to select "Design Mode," then highlight the placeholder text, ensuring to include any associated punctuation. After highlighting, the next action is to right-click and choose the "Font" option. In the font settings, there is a "Hidden" checkbox under font effects, which can be selected to hide the placeholder text from users. The presenter encourages viewers to check out the playlist on their channel for more information on creating fillable forms.