Oxidizes long-chain alcohols and, in the presence of glutathione, is able to oxidize formaldehyde (PubMed:8483449). Is responsible for yeast resistance to formaldehyde (PubMed:8483449). NADP(+) + S-(hydroxymethyl)glutathione = H(+) + NADPH + S-formylglutathione NAD(+) + S-(hydroxymethyl)glutathione = H(+) + NADH + S-formylglutathione a primary alcohol + NAD(+) = an aldehyde + H(+) + NADH a secondary alcohol + NAD(+) = a ketone + H(+) + NADH Binds 2 Zn(2+) ions per subunit. By formaldehyde, ethanol and methyl methanesulphonate. Requires GSH for oxidation of formaldehyde or of methylglyoxal, while oxidation of long-chain alcohols is independent of GSH and enzyme activity improves with chain length. Present with 8370 molecules/cell in log phase SD medium. Belongs to the zinc-containing alcohol dehydrogenase family. Class-III subfamily.