Xanax is a prescription medicine known as alprazolam. Xanax is part of a group medicine. used to treat anxiety and panic disorder. It belongs to a class of drugs called benzodiazepine. brain to promote calmness and a relaxed feeling. It balances out chemicals in our bodies. Do not take more time. Take this directly by mouth. may cause serious side effects including depressed mood, confusion, and agitation. Xanax is available in 1mg,2mg,3mg, and 0.5mg.