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In this tutorial, the speaker explains how to hide the placeholder text that appears in content control form fields. This light-gray text prompts users to fill in the field but can be undesirable in some cases. To hide it, the speaker demonstrates using a form with plain text form fields. First, they enter design mode, then highlight the placeholder text along with the period. By right-clicking on the selection and choosing the font option, they access the font effects box where they can check the "hidden" box to conceal the placeholder text. Viewers are encouraged to check out the playlist for additional guidance on creating fillable forms.