We use a modified version of assert, as per JaredPar's comment, that acts like a contract. This version is compiled into the release code so there is a small size overhead, but disabled unless a diagnostics switch is set, such that performance overhead is minimized. Our assert handler in this instance can be set to disabled, silent mode (e.g. log to file), or noisy mode (e.g. display on screen with abort / ignore, where abort throws an exception).
We used automated regression testing as part of our pre-release testing, and asserts are hugely important here as they allow us to find potential internal errors that cannot be picked up at a GUI level, and may not be initially fatal at a user level. With automation, we can run the tests both with and without diagnostics, with little overhead other than the execution time, so we can also determine if the asserts are having any other side effects.
One thing to be careful of with asserts is side effects. For example, you might see something like assert(MyDatabasesIsOk()), which inadvertently corrects errors in the database. This is a bug, as asserts should never change the state of the running application.