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In this video tutorial, the presenter explains how to hide placeholder text in content control form fields within a form. The placeholder text, typically displayed in light gray, indicates to users where to fill in their information. To hide this text, the presenter uses a plain text content control form field example. First, they enter design mode, then highlight the placeholder text, ensuring to include the period. After selection, a right-click opens the font options, where the presenter shows how to check the "hidden" box under font effects to effectively hide the placeholder text. Viewers are encouraged to check the playlist for more tutorials on creating fillable forms.