Yes, Xanax (alprazolam) can cause memory loss, particularly at higher doses or with long-term use. Memory loss can manifest as difficulty recalling recent events or short-term memory loss. Xanax can also cause confusion, disorientation, and difficulty concentrating, which can also affect memory function. It’s important to use Xanax as prescribed by a healthcare provider and not to exceed recommended doses to minimize the risk of memory problems and other adverse effects.