I love the intense, licorice-y flavour of aniseed, although it's not a spice everyone appreciates. To me, it seems a little old-fashioned, perhaps because of the vintage-looking packaging of Flavigny violet or rose pastilles. At the centre of each hard, round bonbon is a whole aniseed.
The spice (which is actually the fruit of the Pimpinella anisum rather than the seed) has many uses. It gives the distinctive flavour to liqueurs such as Pernod, sambuca, absinthe, ouzo, arak and raki. Because aniseed is believed to aid digestion, many of these liqueurs are consumed at the end of a meal, either straight or mixed with water or ice. Aniseed is also one of the ingredients in the Indian spice and sugar mix known as mukhwas, which is eaten after meals.

In addition to aiding digestion, aniseed is used in alternative medicine to control spasms, stimulate the appetite and relieve cough and lung problems. It's similar in flavour to star anise, although the latter is much stronger.
The flavour of aniseed goes well with sweet and savoury dishes, especially seafood. When making a seafood stew or soup, add a shot of aniseed liquor to the liquid to give the dish a gentle licorice perfume. If you don't have aniseed liquor, add a teaspoonful of the spice when you're cooking the onions, garlic and other aromatics.
I also love aniseed biscotti, to which I add grated orange zest.