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This video tutorial demonstrates how to hide the placeholder text in content control form fields when creating fillable forms. The presenter explains the process using an example form that utilizes plain text form fields. By entering Design Mode, users can highlight the placeholder text, including any punctuation, and then right-click to access the font options. In the font effects section, there is an option to select 'hidden' to remove the placeholder text from view. Viewers are also encouraged to check out the playlist on the channel for more tutorials on creating fillable forms.