Xanax is a central nervous system depressant prescribed for anxiety disorder and panic disorder. Central nervous system depressants slow brain activity, producing a calming effect. The  generic name for Xanax is alprazolam. In the United States, it is the most commonly prescribed psychotropic medication, meaning medication that affects how the brain functions.
Xanax is in the category of drugs called benzodiazepines, which have street names such as “candy,” “downers,” “sleeping pills,” and “tranks,” as in tranquilizers. Xanax comes in pill, tablet or liquid format and can be ingested or snorted.