Final answer:
The panacea is the alchemical product said to cure all illnesses. It reflects the historical alchemical goal to find remedies for all maladies and the broader human quest to harness and transcend natural laws.
Step-by-step explanation:
The product of alchemy that is believed to cure all illnesses is a) Panacea. Alchemists sought the creation of miraculous substances that could, among other things, cure diseases, extend life, and transform base metals into precious ones. The panacea, a term now used to describe a solution or remedy for all difficulties or diseases, comes from this alchemical tradition.
While the quest for the panacea was a prominent goal in alchemy, other famous endeavors included the search for the Philosopher's Stone, associated with transmutation to gold and believed to grant immortality, and the Elixir of Youth, which could supposedly restore youthfulness.
The alchemical heritage informed early scientific exploration before chemistry emerged as a distinct science. This historical pursuit reflected the human desire to understand nature and to control or go beyond its laws, often venturing into the realms of both practical experiment and mysticism.