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In this tutorial, the instructor covers the Find and Replace feature in Excel. To access this feature, navigate to the Home tab, go to the Editing group, and select "Find." This opens a window with two tabs: Find and Replace. The keyboard shortcuts to access these tabs are Ctrl + F for Find and Ctrl + H for Replace. The demo involves using the Replace tab to change the color of red cells to green. Options for more specific searching are also available, providing flexibility in how text or values are located and replaced within Excel.