counterbalance vs counteract

counterbalance is a noun but counteract is not a noun.

Word	Noun	Adjective	Verb	Adverb
counterbalance	Yes	No	Yes	No
counteract	No	No	Yes	No

As verbs, counterbalance and counteract are synonyms defined as:

counterbalance and counteract: oppose and mitigate the effects of by contrary actions

Other synonyms of counterbalance include countervail, neutralize.

counterbalance (noun)	counteract (noun)
a weight that balances another weight
a compensating equivalent
equality of distribution

counterbalance (verb)	counteract (verb)
oppose and mitigate the effects of by contrary actions	act in opposition to
contrast with equal weight or force	destroy property or hinder normal operations
adjust for	oppose or check by a counteraction
	oppose and mitigate the effects of by contrary actions