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In the video tutorial, it's explained that the keyboard shortcut for the "Find" function is Control + F, while to access the "Replace" tab directly, you can use Control + H. Both functions offer additional options, which can be accessed by clicking on the "Options" button. Users can define the search scope, allowing them to find terms within a specific worksheet or across the entire workbook. An example is given where the name "Ahmed" was replaced in the current worksheet, and it's noted that it will not appear there, but may still be present in other worksheets within the workbook.