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In this tutorial, the speaker demonstrates how to hide the placeholder text associated with content control form fields in a fillable form. The tutorial highlights the use of plain text form fields. To hide the placeholder text, the user should enter design mode, then highlight the placeholder text, including the period. After selecting the text, the user can right-click and choose "Font" from the menu. In the font settings, they should look for the "Hidden" option under font effects to conceal the placeholder text. The tutorial encourages viewers to explore additional resources in the channel’s playlist for creating fillable forms.