This bane might be drink (8)
I believe the answer is:
'drink' is the definition.
(absinthe is a kind of drink)
'this bane might be' is the wordplay.
'might be' is an anagram indicator.
'thisbane' anagrammed gives 'ABSINTHE'.
(Other definitions for absinthe that I've seen before include "alcohol" , "Liqueur originally containing wormwood" , "Aniseed flavoured liqueur" , "Green aniseed liqueur" , "Potent aniseed-flavoured drink" .)