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In this tutorial, the presenter explains how to hide placeholder text in content control form fields within a form. Placeholder text appears as light gray, prompting users to fill in the form. To conceal this text, the user should enter design mode, highlight the placeholder text (ensuring to include any punctuation), right-click, and select 'Font.' In the font dialog box, the option to hide the text is found under 'Font effects.' This method allows customization of the form's appearance. The tutorial encourages viewers to check the playlist on the channel for more information on creating fillable forms.