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In this video tutorial, you'll learn how to use the Find and Replace feature in Microsoft Word. This function is particularly useful for altering specific words or phrases throughout a template document. For example, in an employee handbook template, the term "company name" appears multiple times in bold and brackets. To replace it, copy the term, navigate to the Home ribbon under the editing area, click on Replace, and paste the term. The tutorial also demonstrates the importance of checking for any extra spaces copied, which should be removed before executing the replacement.