Xanax, the brand name for alprazolam, is a prescription medication primarily used to treat anxiety and panic disorders. It belongs to a class of drugs called benzodiazepines, which act on the central nervous system to produce a calming effect. Xanax works by enhancing the effects of a neurotransmitter called gamma-aminobutyric acid (GABA), which helps to reduce excessive brain activity that can lead to anxiety and panic.