Formal:
* Calmez-vous. (Formal "you" - singular or plural)
* Calmez-vous, s'il vous plaît. (Formal "you" - singular or plural, with "please")
Informal:
* Calme-toi. ("you" - singular, informal)
* Détendez-vous. ("you" - singular or plural, informal)
* Repose-toi. ("you" - singular, informal)
* Reste calme. ("you" - singular or plural, informal)
* T'en fais pas. (Slang, "don't worry" or "don't stress")
More specific:
* Prenez votre temps. (Take your time, used for a situation where someone is rushing)
* Respirez profondément. (Breathe deeply)
* Ne vous inquiétez pas. (Don't worry)
The best option depends on the situation and your relationship with the person you're speaking to.