wipe out vs cancel out

wipe out and cancel out both are verbs.

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

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

wipe out (verb)	cancel out (verb)
kill in large numbers	wipe out the effect of something
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