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possible (adj.)

"that may be, capable of existing, occurring, or being done," mid-14c., from Old French possible and directly from Latin possibilis "that can be done," from posse "be able" (see potent).

The only kind of object which in strict propriety of language can be called possible is the truth of a proposition ; and when a kind of thing is said to be possible, this is to be regarded as an elliptical expression, meaning that it is of such a general description that we do not know it does not exist. So an event or act is said to be possible, meaning that one would not know that it would not come to pass. But it is incorrect to use possible meaning practicable ; possible is what may be, not what can be. [Century Dictionary]

possible (n.)

"that which may take place or come into being," 1640s, from possible (adj.).

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Definitions of possible from WordNet
1
possible (n.)
something that can be done;
politics is the art of the possible
possible (n.)
an applicant who might be suitable;
2
possible (adj.)
capable of happening or existing;
warned of possible consequences
a breakthrough may be possible next year
anything is possible
possible (adj.)
existing in possibility;
possible uses of nuclear power
Synonyms: potential
From wordnet.princeton.edu