There is a reliable antidote for depression and anxiety, and that is wisdom, which is to understand a “truer” version of yourself, which is to spiritually wake up, which means beginning to identify more with the life energy behind the body and less with the mental and emotional programming of the body form. The biggest value of past life regression is that it essentially helps in this process of spiritually waking up because you can directly feel and experience yourself as the life that animates the form. It can’t be known by thought, but from a higher dimension of consciousness beyond thought, whereby which you experience yourself as vast eternal stillness and presence.
From the perspective on earth, the sun appears to rise each morning and set each evening. But this is only relatively true. From space, it’s known that the sun never actually rises or sets, but shines continuously. Similarly, the identification of being the human is only “relatively true”, and according to the Buddha, is the root of suffering. As you become more aware of the one sustaining life behind not only your body, but all other forms, and you identify with it more and more, the subtle beliefs behind depression and anxiety begin to fall away. You identify more as a being of pure creative potential, which in actuality is a “truer, more absolute” version of yourself. This is a truth that can be known by experience, and not merely as an intellectual concept.
Eckhart Tolle writes that the most significant thing that can ever happen to a human being is the process of becoming aware of your thoughts. As this happens, you eventually begin to identify less with the incessant mind stream of negative chatter that holds you back in life, and more with the awareness that notices a thought or a subtle unconscious, limiting belief. This is the beginning of the “waking up” process, where you see an out-dated thought or belief for what it is…just faulty mental conditioning that you believe in less and less. Again, the biggest value of past life regression is that you fully experience the separation between you and the incessant thought stream. You instead experience yourself as vast stillness, awareness, and enormous potential. From that vantage point, all negative beliefs about yourself seem erroneous and silly. In this manner, it serves to help you in the “waking up” process.