The Sazerac is New Orleans in a glass — rye whiskey, originally cognac, stirred with sugar and Peychaud's bitters and served in a chilled glass rinsed with absinthe, finished with a lemon peel. Spirit-forward and aromatic, it's a cousin of the Old Fashioned carrying a herbal, anise edge from the absinthe rinse. Rye, cognac, or a split of both all have their devotees.