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In this video tutorial, the presenter explains how to hide the placeholder text in content control form fields used for creating forms. The placeholder text appears as light gray to prompt users to fill in the fields, but there may be reasons to remove it. The tutorial demonstrates using a plain text form field and selecting “Design Mode.” The process involves highlighting the placeholder text, including the period, right-clicking to access the font options, and checking the "hidden" box in the font effects. Viewers are encouraged to check out the playlist for additional information on creating fillable forms.