This is the 1402nd most frequent Russian word.
возможное
Possible.
The word 'возможное' (declined as 'возможные' here) is used as an adjective meaning 'possible' in relation to the noun 'варианты' (options).
Мы должны рассмотреть все возможные варианты.
We must consider all possible options.
The word 'возможное' here is used as a substantive adjective acting as a noun, representing 'everything possible' or 'all that is possible'.
Она сделала всё возможное, чтобы помочь.
She did everything possible to help.
In this sentence, 'всё возможное' similarly uses 'возможное' as a substantive adjective, indicating 'everything that is possible'.