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In this video tutorial, the presenter demonstrates how to hide placeholder text in content control form fields, which typically appears as light gray to prompt users. The tutorial emphasizes that while the placeholder text is useful, there may be instances where it is undesirable. To hide the text, the user selects the form field in design mode, highlights the placeholder text (including the period), right-clicks, and selects the font option. Within the font effects, there is a checkbox labeled "hidden" that can be enabled to hide the placeholder text. Viewers are also encouraged to check the related tutorial playlist on the channel for more information on creating fillable forms.