There are two kinds of slips: a side slip and a forward slip. Drop one wing and apply opposite rudder to induce a forward slip and lose altitude quickly.
Anatomy of a slip - AOPA
Loss of Power on Takeoff - FLYING Magazine
Asiana pilots failed to monitor airspeed and altitude, NTSB says - Los Angeles Times
Understanding the Aerodynamic Forces in Flight (lift, drag)
How To Fly Zero Sideslip When Your Engine Fails
The difference between a side slip and a forward slip
approach - Mushing glide vs forward slip sink rate - Aviation Stack Exchange
Pilots, What is the difference between a forward slip and a side slip? - Quora
How to Sideslip Smoothly
Forward Slip to Landing - MzeroA Flight Training