What does the cryptic crossword clue "Panic! Strap failing in trousers (5,5)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Panic! Strap failing in trousers (5,5)

Telegraph Prize Cryptic #3212 | 23 Across | 2023-05-14 flower

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