How can I apply some value with HTML tags to a form element?
Use css.


Example:

If your $form['name'] is a div with an id wrapper,

&lt;div id="wrapper"&gt;Fazeela&lt;/div&gt;


Include a css file in your module file, particularly in hook_init function.

function NameOfYourModule_init(){
   drupal_add_css(drupal_get_path("module", "NameOfYourModule") . "/mycss.css"); 
}


mycss.css file

#wrapper{
    font-weight: bold;
}