Possessing rhymes with:
acquiescing, addressing, assessing, blaesing, blessing, caressing, coalescing, compressing, confessing, depressing, digressing, distressing, dressing, expressing, guessing, hessing, impressing, lessing, messing, obsessing, oppressing, pressing, professing, progressing, reassessing, recessing, redressing, repressing, stressing, suppressing, transgressing
Possessing sounds like:
pachinko, pacing, packaging, packing, packinghouse, paging, pajamas, pasing, passanisi, passing, passions, pausing, peaking, pecanins, pecanins', pecans, pecking, peeking, pegging, peking, pezim's, phasing, physician's, physicians, physicians', picinich, pickens, pickens', pickens's, picking, pickings, pickins, picnic, picnics, piecing, pieczynski, pigeon's, pigeons, pigskins, pipkins, poaching, poconos, poignancy, poisoning, poisonings, poisonous, poisons, poking, posing, posnick, possessions, possums, poznanski, pozniak, psencik, psychogenic, psychokinesis, pugnacious, pushing, pygmies