What is kava kava used for?

Could you elaborate on the various applications and uses of kava kava? I've heard it mentioned in relation to relaxation and stress reduction, but I'm curious to know if there are any other significant purposes for this plant. Does it have medicinal value or is it primarily used for cultural and social purposes? I'd also be interested to learn about its traditional preparation methods and how it's consumed in different cultures. Your insights would be greatly appreciated in helping me gain a more comprehensive understanding of kava kava's uses and applications.