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In this tutorial, the speaker explains how to hide the placeholder text in content control form fields in a form. This light-gray placeholder text prompts users to fill in the field, but sometimes it may not be desired. To hide the placeholder text, the user should enter design mode, highlight the text including the period, right-click, and select the font option. In the font settings, there is an option for "hidden" under font effects that can be checked to hide the text. The speaker encourages viewers to check their channel playlist for more information on creating fillable forms.