I have Panic Disorder so yup. I panic over lots of different things.
The way I'm "supposed" to deal with it (says my therapist) is to stay in the area that's making me uncomfortable, do deep breathing, and remind myself that "what comes up must come down." In other words, the panic won't last forever. If you hold through it long enough it goes away and you see that nothing bad actually happened. I do this, but I can tell you it's MUCH easier said than done! Deep breathing and chanting "this will pass" in my head is pretty simple to practice when I'm not in panic mode, but when it comes it's very difficult to do.
I can say that it gets easier with time. When I first started learning how to stop panic attacks or general panic feelings I didn't do very well. Now I can usually get through most situations even if I'm left with just an uncomfortable feeling.
The reason why you're supposed to stay with the panic and stay IN the situation is because panic builds upon itself. So if you're scared of crowded places and leave every time you go in panic mode, the panic feeds off of that. It says "see, things got better when we left." Then you'll always continue to leave and be scared of that situation. If you hold out until it subsides, you learn that nothing bad actually happened and slowly the panic decreases. This takes a LOT of time.
Also Xanax is a life saver.