cancel out vs wipe out

cancel out and wipe out both are verbs.

Word	Noun	Adjective	Verb	Adverb
cancel out	No	No	Yes	No
wipe out	No	No	Yes	No

As verbs, cancel out and wipe out are synonyms defined as:

cancel out (verb)	wipe out (verb)
wipe out the effect of something	kill in large numbers
	mark for deletion, rub off, or erase
	remove from memory or existence
	wipe out the effect of something
	use up (resources or materials)
	eliminate completely and without a trace