I tried both. I started with Therapy, and then tried a couple of different meds, but not until several months into my therapy. I actually changed therapists once before trying meds too - I was scared to take anything, which makes no sense since I self medicated with alcohol for decades.
Long term my experience and opinion is that the meds really only helped the symptoms, the therapy helped with the source of the symptoms. I tried an anti-depressant first and it was not a good experience. The second med I tried was a more targeted anxiety med and it was helpful initially. I took it for about 6 months and then weaned off.
My personal opinion is that a holistic solution works best. In my case my condition is Anxiety, and the solution involved Therapy, meds ( for a bit ), exercise, diet changes ( reducing caffeine/sugars ), sleep and behavior modification. Reading about and practicing mindfulness and mediation was helpful too.