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In this video tutorial, the presenter demonstrates how to hide placeholder text in content control form fields. Placeholder text often appears as light gray, prompting users to fill in the form. To hide this text, the presenter uses a form with plain text content controls. After selecting the design mode, they highlight the placeholder text along with the period, right-click, and choose the font option. In the font effects section, there's an option to hide the text. The tutorial encourages viewers to check out a playlist for more on creating fillable forms.