Xanax 2 mg or Xanax XR 3 mg is a widely prescribed medication known by its generic name, alprazolam. Available in tablet form, it belongs to the benzodiazepine class of drugs, acting as a central nervous system depressant. Typically, Xanax is used to treat anxiety and panic disorders by enhancing the effects of a neurotransmitter called gamma-aminobutyric acid (GABA). The small, oval-shaped tablets are scored for easy dosage adjustment and come in various strengths.