I got this idea after seeing the "Atop The Fourth Wall" reviews for the A Nightmare on Elm Street: Paranoid comic series.
During that series, we briefly get what appears to be a scene of the main character - Claire - confronting Freddy in the Dream World before managing to grab him and wake up; dragging Freddy back into the real world (with Claire been at Westin Hills at the time with her Dad and Boyfriend).
However, rather than repeating the failed approach from the past and trying to kill him, she calls for her Dad and her boyfriend to grab Freddy and lock him up in a cell - which they succeed in doing.
While this situation offered some interesting ideas that could be played with, the comic sadly squanders it by revealing that Claire waking up and capturing Freddy didn't happen and she's still in the Dream World.
However, this got me thinking; there could be a way to stop Freddy this way if they succeeded in pulling him out of the Dream World.
If they succeeded in doing so (which admittedly would be very dangerous as Freddy has proven) and were able to restrain Freddy, what if they then gave him enough Hypnocil to put him into a dreamless coma - as was shown in Freddy vs. Jason where there was a room of people who were comatose from overdosing on the experimental drug?
With Freddy alive but comatose, and with the Hypnocil-induced coma also cutting him off from the Dream World since the drug stops you from dreaming, it gives the people in the real world time to sort things out again so that Freddy is forgotten about, thus preventing people been afraid of him if they can't remember him.
Heck, in this situation the Dream Demons who gave Freddy his powers might decide to strip him of those powers since Freddy can no longer do his job; effectively having a "To hell with this - we're off!" moment and leaving their former 'agent' to age and eventually rot.
(A similarity would be what happened in Nightmare Warriors when Freddy used the Necronomicon to grant himself reality-altering power and hoard it all for himself, with the angry Dream Demons declaring him of been "unworthy" and stripping him of both his Dream and Necronomicon powers).
Granted, this plan could still potentially backfire (in horror franchises, something usually does), but this could at least keep him down for a while if handled right.
Curious to see what you guys think of this.