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In this tutorial, the presenter demonstrates how to hide the light-gray placeholder text in content control form fields, which indicates to users that they need to fill in the fields. The video showcases a form created using plain text form fields within content controls. To hide the placeholder text, users can enter design mode, select the placeholder text (including the period), right-click, and access the font settings. Within the font effects, there is an option to hide the text. Viewers are encouraged to check out the channel's playlist for more instructions on creating fillable forms.