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In this video tutorial, the instructor demonstrates how to hide placeholder text in content control form fields when creating a fillable form. The placeholder text appears light-gray to guide users, but can be undesirable in some cases. To hide it, the instructor showcases a practical example using plain text form fields. By entering design mode, users can highlight the placeholder text, including any punctuation, right-click to access the font options, and check the "hidden" box under font effects. For more insights on creating fillable forms, viewers are encouraged to explore the related playlist on the channel.