kallahar writes tuxedo.org has a great summary about what the Libertarian Party's stance on many issues is.

Do libertarians want to abolish the government?

Libertarians want to abolish as much government as they practically can. About 3/4 are "minarchists" who favor stripping government of most of its accumulated power to meddle, leaving only the police and courts for law enforcement and a sharply reduced military for national defense (nowadays some might also leave special powers for environmental enforcement). The other 1/4 are out-and-out anarchists who believe that "limited government" is a delusion and the free market can provide better law, order, and security than any goverment monopoly.

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What is the libertarian position on the "drug war"?

That all drugs should be legalized. Drug-related crime (which is over 85% of all crime) is caused not by drugs but by drug laws that make the stuff expensive and a monopoly of criminals. This stance isn't "approving" of drugs any more than defending free speech is "approving" of Nazi propaganda; it's just realism -- prohibition doesn't work.