I wrote a book called The Six Skills and Other Discussions... it's about diving. Skill number one is breathing. Tai Chi, Yoga, Martial Arts, all have techniques to help folks master breath control... control the breathing cycle and you control panic and focus the mind.
Always stuck me as odd that we teach open water students that the most important rule of scuba is to keep breathing and then give them bugger all advice on how to develop the skills to do so.
And this is why every diver from the newest OW student on should have a copy of Steve's book. When you start to relax and quiet the mind, breathing naturally slows and gets deeper and more efficient.
A few things that will work against this as related to diving are:
1. General discomfort in the water. This is why there are evaluations of watermanship in entry level training. Ideally it should be the first thing that is done in the pool.
2. Poor training. Poor training results in higher stress levels as the diver is not ready for much of what they encounter when they get out in the real world.
3. Poor buoyancy. Another stress producer that will agitate a diver and not allow the mind to settle. Often relates back to number one.
4. Lack of confidence in one's skills. If someone is really nervous or anxious about a new area above the general anticipation and excitement, it's probably a goood idea to not move into that area yet. Why take AOW if you are really nervous about not being able to control your buoyancy on the deep dive? Good question. If that's a concern don't do it. Work on buoyancy first. When you have it nailed then take AOW.
5. Too much going on in life. While scuba is a great way to relax and get away from the pressures of the surface world, if you are thinking about your mortgage, marriage issues, job issues, etc., it's probably a good idea to deal with those. Get them in order. Take care of the pressing issues rather than run away from them under water.
This is supposed to be relaxing and a way to quiet the noise. If it's not then your mind can't settle and if it can't settle all you'll do is fight to get your breathing under control. The result may be that it actually gets worse.