STEP-BY-STEP ANSWER:
Step 1: Recognize that phentolamine is an alpha blocker that works by blocking alpha-adrenergic receptors.
Step 2: Understand that blocking these receptors results in vasodilation, which reduces blood pressure.
Step 3: In the case of extravasation injuries, the vasodilatory action helps to limit tissue damage by improving local blood flow.
Step 4: Note the additional use of related alpha blockers like tamsulosin in treating BPH by relaxing smooth muscle in the urinary tract.
Final Answer: Phentolamine reduces blood pressure and mitigates extravasation injuries by blocking alpha receptors, causing vasodilation and improved blood flow.