reâ¢lapse. 1. to fall or slip back into a former state or practice: to relapse into silence. 2. to fall back into illness after convalescence or apparent recovery. 3. to fall back into wrongdoing or error.
Alchemy is the art of transmutation of energy and transmutation of self. It is a healing art and a path towards enlightenment before anything else. And yes it is still being practiced and taught today. Alchemy is the transformation of the soul, turning your dull inner light, into a bright gold like light.
However one regards it as a science and philosophy, Alchemy provided the beginnings of chemistry, and certainly helped to develop the apparati of chemistry. It is part of the history of science, which is the history of human interaction with nature, and humanity's attempts to harness the power of nature for very human needs and wants.