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In this tutorial, the presenter explains how to hide the placeholder text in content control form fields, which appears as light gray to prompt users to fill in the form. To demonstrate, they create a form using plain text form fields. The process involves entering design mode, highlighting the placeholder text (ensuring to include the period), right-clicking, and selecting the font option. In the font effects section, there is a box labeled "hidden" that can be checked to conceal the placeholder text. Viewers are encouraged to explore a playlist on the channel for more tutorials on creating fillable forms.