Originally Posted by
Wowik Можно - it is permissible; one may
Возможно - it is possible; one can
Можно - one can (it is possible)? (personal, specific)
Возможно - It is a possibility (neutral, general)
Examples will illustrate it better:
Можно пойти в туалет? (may I go to the toilet, is it possible to go to the toilet)
Возможно, что он не прав (it is possible he is wrong)
здесь можно курить? (can one smoke here, is it possible to smoke here)
всё на свете возможно! (anything is possible in the world)