elixir vs potion

elixir and potion both are nouns.

Word	Noun	Adjective	Verb	Adverb
elixir	Yes	No	No	No
potion	Yes	No	No	No

As nouns, potion is a hypernym of elixir; that is, potion is a word with a broader meaning than elixir:

Other hypernyms of elixir include catholicon, cure-all, nostrum, panacea.

elixir (noun)	potion (noun)
a substance believed to cure all ills	a medicinal or magical or poisonous beverage
a sweet flavored liquid (usually containing a small amount of alcohol) used in compounding medicines to be taken by mouth in order to mask an unpleasant taste
hypothetical substance that the alchemists believed to be capable of changing base metals into gold