Xanax (alprazolam) is a benzodiazepine medication used to treat anxiety and panic disorders. Includes side effects, interactions and safety information. Alprazolam is a benzodiazepine. Benzodiazepines belong to the group of medicines called central nervous system (CNS) depressants, which are medicines that slow down the nervous system. Find patient medical information for Alprazolam (Xanax) on WebMD including its uses, side effects and safety, interactions, pictures, warnings, and user ratings Alprazolam is used to treat anxiety and panic disorders. Learn how it works, common side effects, dosing, warnings, and safety tips. Alprazolam is used to treat anxiety disorders and panic disorder (sudden, unexpected attacks of extreme fear and worry about these attacks). Alprazolam is in a class of medications called benzodiazepines. Alprazolam is taken orally, and is absorbed well – 80% of alprazolam binds to proteins in the serum (the majority binding to albumin). The concentration of alprazolam peaks after one to two hours. Alprazolam generic tablets are indicated for the management of anxiety disorder. Learn about side effects, drug interactions, dosages, warnings, and more.