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In this video tutorial, the presenter explains how to hide the placeholder text that appears in content control form fields, which is typically displayed in light gray to prompt users to fill in the field. To demonstrate, the presenter creates a form using plain text content control fields and enters design mode. They highlight the placeholder text, ensuring to include the period, then right-click to open the font options. In the font effects section, they locate and check the box labeled "hidden," allowing the placeholder text to be concealed. Viewers are encouraged to check out the tutorial playlist for creating fillable forms on the channel.