What is the best way to deal with very long form labels?

I have very long labels in some forms, including forms in modal windows. There are some cases we have labels with more than 80 chars, which is bad because:

  • Users need to read/track all the labels to identify the fields, and in most cases the most important word to identify the field is at the end of the label.
  • It's hard to design/align the form, because we have fields with very short labels in the same form.
  • It increases the vertical scroll of the page.
  • Aesthetically it's not good.

Below you will see the "bad" situation, just showing all the label as is:

Simple approach, not using any kind of grouping or abbreviation

Here is a study trying to fix this by:

  • Grouping the common terms in the label as a subtitle of a specified "section" in the form, and just showing in the top of the field the term that really differentiates one field to another.

  • Using tooltips to show the complete label to the users that might have some doubt about the field description.

More sophisticated approach trying to group similar fields, using subtitles and tootltips to define the complete label to help users that might have some doubt

Is the second approach good UX? Is there anything I can improve or fix? Is there another solution that is more correct?

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