something supposedly capable of solving all problems
elixir - potion
Before the advancement of modern medicine and science proved such outlandish claims to be false, the word ‘elixir’ was used to refer to a magical or mythical substance, typically a liquid, that could cure all ills and even preserve youth. Since then, the term is used humorously, or in a much less literal sense to describe something that can supposedly or potentially solve all problems as if by magic.
I saw Emily for the first time in years last weekend and she doesn’t seem to have aged a day. She must have discovered the elixir of youth!
Streamlining the business was a necessary step, but it won’t be the elixir of all our woes. There’s a lot of work still to be done.
The herbalist gave me a special elixir of honey and lemon mixed with green tea. She claims that it is a highly effective detoxifier.