Stripped holes in wall to hold panel- how do I put it back in securely? : HomeImprovement

I purchased a new home and we are doing some home improvements. This wall panel does not stay secure in the wall because the holes in the drywall are stripped. What should I do to screw it back in so it stays securely?

Here are pictures.

I also have a similar issue with a closet door, and the hinge screws.
Thanks for your help.

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