The alcohol in drinks is made by a process called fermentation. This process is achieved by the anaerobic respiration of yeast. This makes the yeast inactive and the process stops. The lower alcohols, e.g. methanol, ethanol, are water-like liquids. They dissolve well in water, less well in other solvents.
Alcohols burn in a plentiful supply of air to give carbon dioxide and steam.
They can be oxidised to organic acids - ethanol, for example, is oxidised to ethanoic acid. This is the change that takes place when wine changes to vinegar.