Alchemy is gameplay mechanic in Outward used to create curatives and magical items of all sorts. Alchemy may also refer to ready-to-use items like potions or imbues that can be used to obtain various effects and overall combat advantage.
See this article for a list of Alchemy merchants.
Players can select up to 4 manual ingredients to try their luck with a manual recipe (or craft one they know in advance).
Failing an Alchemy Kit recipe will destroy the ingredients!