I am Pagan and I have vivid memories of "the Satanic Panic." I had young children at the time and so did several of my Pagan friends, and we felt that there was a real danger of losing our kids if we were open about our faith. Of course, Satanism has nothing to do with the Pagan faiths such as Wicca, Druidry, the Norse tradition, etc. Satan, under one name or another, features in Christianity, Judaism and Islam, but not in Paganism. We don't believe in him (or give the idea any thought, to be honest), therefore we neither fear nor worship him.
However, the evangelical Christians who seemed to be driving the panic didn't differentiate between Satanism and Paganism as religious concepts. To them, we were (and are) all devil-worshippers. Nor did the police or Social Services apparently have any awareness or, at times, much common sense. For instance, I remember one family being accused of possessing an inverted cross, until it was pointed out that it was the struts of a children's kite!
There was also a discussion programme where a young woman, supported again by supposedly God-fearing Christians, described in detail how she had been raped by Satanists and had given birth to several children who had then been sacrificed. She also claimed to have seen other human sacrifices. She seemed obviously disturbed but her claims were treated with great seriousness and she was encouraged to elaborate on them. These stories continued in the media until the police stated that she had been examined, she had never given birth and there was no evidence that the Satanic cult had ever existed.
Some people in authority, here and in the USA, who should have been more sceptical seemed to go a bit insane at that time. The sad thing was the damage that was done to innocent families.