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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields used to create forms. Placeholder text appears as light gray, prompting users to fill in the fields, but it can be undesirable at times. The tutorial demonstrates the process using a form with plain text content controls. The steps involve selecting "Design Mode," highlighting the placeholder text (including the period), right-clicking, and choosing the 'Font' option. Within the font settings, there is an option to check the box labeled "Hidden" to remove the placeholder text from view. Viewers are encouraged to check out the playlist on the channel for more on creating fillable forms.