How to Say "is possible" in Spanish
The Spanish word for “is possible” is “cabe” — B1 level. This is a very common word in everyday Spanish.

Examples
No cabe duda de su inocencia.
There is no doubt of his innocence. (Literally: Doubt does not fit.)
Cabe la posibilidad de que lleguen tarde.
The possibility exists that they will arrive late. (Literally: The possibility fits.)
En este argumento no cabe otra interpretación.
Another interpretation is not possible in this argument.
Formal Possibility
When 'cabe' is used abstractly, it often implies 'it is contained within the realm of possibility.' It sounds more formal than just saying 'es posible' (it is possible).
Using 'Cabe' for 'There Is'
Mistake: “Using 'cabe' when you mean 'hay' (there is/are).”
Correction: Only use 'cabe' when discussing capacity or possibility. For general existence, stick to 'hay': 'Hay tres libros en la mesa' (There are three books on the table).
Related Translations
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