Cognitive Behavioral Therapy (CBT) seems to currently be one of the msot effective methods of treating anxiety disorder as well as depression. Though, this is often used in conjunction with psychopharmacological drugs (which are great short-term).

There are numerous studies and research being conducted as we speak to look at more effective methods of treating anxiety disorder and depression. A recent study I read about was looking at brain activity of someone sufferring from panic attacks. They found some similiarities of brain activity linked to those who suffer from migraines.

What this entails is if they can possibly isolate a specific area of the brain or honeon on specific neurotransmitters, they may actually be able to both prevent migraines as well as come up with a new method at treating or possibly curing anxiety disorder.

I think it is only a matter of time before scientists come up with a cure for common mental health disorders such as anxiety and depression. I believe it will be a process without using medications but rather a relatively simple outpatinet procedure in which the brain will be stimulated in certain areas that will in turn permanently cure anxiety. This is of course my own personal speculation.

Talk therapy and appropriate prescription drugs together seem to me to work the best. Since clinical depression is often related to brain chemistry, talk therapy or behavior mod. alone won't fix it. It may take some time to find the right balance of meds, and then there is a lot to straighten out about what the depressed person has been misunderstanding because of his or her depression.

Anxiety can be a form of depression, even though it looks like anxiety means overly "up" and depression is overly "down". Consider it as "agitated depression". Anyone who suffers from anxiety is miserable in the same sort of hopeless way as a mopey depressed person, the symptoms just appear different. Anti-depressants may help them both.

Recent major "component analysis" studies actually found that it was the behavioral part of the cognitive behavioral therapy that works best for depression treatment. The best form of psychotherapy for depression according to this kind of research, is called behavioral activation therapy":

http://en.wikipedia.org/wiki/Behavioral_activation

http://www.christophermartell.com/

The best psycho-therapeutic tools for anxiety treatment are found in cognitive behavioral therapy as a whole. This is because changing the thinking or cognitive part of most anxiety problems is so effective in treatment.

http://helpguide.org/mental/anxiety_therapy.htm