In this paper, we establish the local, global existence and large-time behaviors of strong solutions to the free boundary problem of the planar magnetohydrodynamic equations with degenerate viscosity coefficient. Only the initial energy at the basic level is required to be small. The main difficulties are the degeneracy of the system near the free boundary and the strong coupling of the magnetic field and the velocity. We overcome the trouble by deriving the point-wise upper and lower bounds of the deformation variable uniformly in time and spatial variables and setting up the uniform-in-time weights energy estimates of solutions via singular multipliers. In contrast to previous works, the density is not required to be bounded from below and the viscosity coefficient is not a constant but degenerate; moreover, sharp convergent rates toward the steady state of the solutions are obtained.
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