prospect vs possibility

prospect and possibility both are nouns.

Word	Noun	Adjective	Verb	Adverb
prospect	Yes	No	Yes	No
possibility	Yes	No	No	No

As nouns, possibility is a hyponym of prospect; that is, possibility is a word with a more specific, narrower meaning than prospect:

Other hyponyms of prospect include hope, promise, foretaste, anticipation, expectancy, apprehension, misgiving.

prospect (noun)	possibility (noun)
a prediction of the course of a disease	a tentative insight into the natural world; a concept that is not yet verified but that if true would explain certain facts or phenomena
the visual percept of a region	a possible alternative
belief about (or mental picture of) the future	a future prospect or potential
someone who is considered for something (for an office or prize or honor etc.)	capability of existing or happening or being true
the possibility of future success

prospect (verb)	possibility (verb)
explore for useful or valuable things or substances, such as minerals
search for something desirable