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In the video tutorial, the presenter explains how to use the Find and Replace feature effectively. The keyboard shortcut for Find is Control + F, while Control + H takes you directly to the Replace tab. Both functions have options accessible via the "Options" button, allowing users to define the search scope—either within a single worksheet or across the entire workbook. An example is provided where a name, "Ahmed," is replaced in one worksheet, and the presenter notes that it will not appear in that specific sheet again, but it may still exist in other worksheets.