Alternative Possibilities are one of the key 
requirements for the freedom component of free will, critically needed for 
libertarian free will. They allow for what 
William James called open and ambiguous futures. 
The old page on 
Harry Frankfurt's denial of the 
Principle of Alternate Possibilities (PAP) can be found 
here. This 
Possibilities page is now about the philosophical difference between "possibilities" (especially those never realized) and the one 
realized "actuality."
The existential and ontological status of mere "possibilities" has been debated by philosophers for many centuries. 
Diodorus Cronus dazzled his contemporaries in the fourth century BCE with sophisticated logical arguments, especially paradoxes, that logically "proved" there could be only 
one possible future. 
Diodorus' 
Master Argument is a set of propositions designed to show that the 
actual is the only possible and that some true statements about the future imply that the future is already determined. This follows logically from his observation that if something in the future is not going to happen, it must have been that 
statements in the past that it would not happen must have been true.
Modern day "actualists" include 
Daniel Dennett, for whom 
determinism guarantees that the actual outcome is and always was the only possible outcome. Dennett, as dazzling as Diodorus, cleverly asks "Change the future? From what to what?"
The ancient philosophers debated the distinction between 
necessity and contingency (between the 
a priori and the 
a posteriori). Necessity includes events or concepts that are logically necessary and physically necessary, contingency those that are logically or physically possible. In the middle ages and the enlightenment, necessity was often contrasted with 
freedom. In modern times it is often contrasted with mere 
chance. 
Causality is often confused with 
necessity, as if a causal chain requires a deterministic necessity. But we can imagine chains where the linked causes are statistical, and modern quantum physics tells us that all events are only statistically caused, even if for large macroscopic objects the statistical likelihood approaches certainty for all practical purposes. The apparent deterministic nature of classical mechanical laws is only an 
"adequate" determinism, true for macroscopic objects which are large enough, massive enough, to contain so many elementary particles that the 
indeterministic quantum effects of individual average out.
In modern philosophy, modal theorists like 
David Lewis discuss 
counterfactuals that might be true in other "possible worlds." Lewis' work at Princeton may have been inspired by the work of Princeton scientist 
Hugh Everett III. Everett's 
interpretation of quantum mechanics replaces the 
"collapse" of the wave function with a "splitting" of this world into multiple worlds, in each of which everything is 
completely determined!
The Ontological Status of Alternative Possibilities 
Whereas 
Actualities are 
physical events involving 
material bodies, 
possibilities normally have no material content. They are 
immaterial, like our thoughts and ideas. In particular, they are 
predictions about the future in a universe with multiple possible futures. 
Actualists (from Diodorus to Dennett) are 
determinists who believe that the only possible future is the one future that will actually happen. 
Quantum Mechanics and Alternative Possibilities
According to the 
Schrödinger equation of motion, the time evolution of the wave function describes a "superposition" of possible quantum states. Standard quantum mechanics says that interaction of the quantum system with other objects causes the system to collapse into one of those possible states, with 
probability given by the square of the "probability amplitude." 
One very important kind of interaction is a 
measurement by an "observer."
In standard quantum theory, when a measurement is made, the quantum system is "projected" or "collapsed" or "reduced" into a single one of the system's allowed states. If the system was "prepared" in one of these "eigenstates," then the measurement will find it in that state with probability one (that is, with 
certainty).
However, if the system is prepared in an arbitrary state ψ
a, this state can be represented as being in a linear combination of the system's basic eigenstates φ
n. 
where
cn = < ψa | φn >.
    
The system ψ
a is said to be in "superposition" of those basic states φ
n. The probability P
n of its being found in a particular state φ
n is
Pn = < ψa | φn >2 = cn2.
These probabilities and their information content are ontologically similar to our thoughts and ideas — 
immaterial predictions about future 
material events. The astonishing mathematical accuracy of these predictions about the future might appear to put them in the same category as logical statements and mathematical proofs.
But this is not so. Physical theories are only tested 
statistically, by comparison to the outcomes of large numbers of identical experiments. Scientific theories are not "proven" true or false, neither mathematically nor logically by reasoned arguments. Information philosophy goes "beyond logic and language" to solve 
great problems in philosophy and physics. 
Possibilities and the Existence of Particle Properties in Quantum Mechanics
When a quantum 
measurement is made on a system in a 
superposition of states, which state the system 
collapses into is quantum random. The means that the particular state 
did not exist before the measurement. There is no objective reality as 
Albert Einstein hoped. As the Copenhagen interpretation claimed, the property is brought into existence by the measurement. It 
creates new information in the universe.