While alprazolam can be an effective treatment for anxiety and panic disorders, it is important for patients to use this medication as prescribed and to be aware of potential side effects. Common side effects of alprazolam include drowsiness, dizziness, and decreased coordination. It can also cause cognitive impairment and memory problems, especially in older adults. Additionally, alprazolam has a high potential for abuse and dependence, so it should only be used for short-term treatment and monitored closely by a healthcare provider.