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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields within a form. The placeholder text is typically displayed in light gray to prompt users for input. The tutorial demonstrates using a plain text form field and guides viewers to enter Design Mode. Once in Design Mode, users can highlight the placeholder text, including any punctuation, right-click, and select the font options. In the font settings, there is an option under font effects to hide the selected text. Viewers are encouraged to explore the channel's playlist on creating fillable forms for additional tips and guidance.