QUICK ANSWER
"It" is a form of "it", a pronoun which is often translated as "lo". "All is well" is a phrase which is often translated as "todo está bien". Learn more about the difference between "all is well" and "it" below.
all is well(
al
ihz
wehl
)A phrase is a group of words commonly used together (e.g., once upon a time).
1. (general)
a. todo está bien
We act as if all is well, but we have problems.Hacemos como que todo está bien, pero tenemos problemas.
b. todo va bien
Everyone thinks all is well in my best friend's life, but I'm not so sure.Todos piensan que todo va bien en la vida de mi mejor amiga, pero yo no estoy tan segura.
c. no direct translation
This refers to an idiomatic word or phrase for which there is no word-for-word translation.
Dear Andrew, I hope all is well with you. I'm okay.Querido Andrew: Espero que te encuentres bien. Yo estoy bien.
Long time no see, Norma! I hope all is well.¡Cuánto tiempo sin verte, Norma! Espero que todo vaya bien.
it(
iht
)A pronoun is a word that stands in for a noun (e.g., she).
a. él (masculine)
Here's the envelope. There's something inside it.Aquí está el sobre. Hay algo dentro de él.
b. ella (feminine)
The child jumped into the bed, convinced that there was something under it.El niño brincó sobre la cama, convencido de que había algo debajo de ella.
4. (personal)
a. no direct translation
This refers to an idiomatic word or phrase for which there is no word-for-word translation.
I don't think it will fit in the car.No creo que cabrá dentro del coche.
It is heavier than I thought.Pesa más de lo que pensaba.
5. (impersonal)
a. no direct translation
This refers to an idiomatic word or phrase for which there is no word-for-word translation.
It was a foggy night.Era una noche nublada.
It's raining cats and dogs out there!¡Está lloviendo a cántaros afuera!