The suffixes “-able” and “-ible” are both used to form adjectives meaning “possible, capable of, suitable for, or causing.” Of the two, “-able” is much more common: it is what's known as a “living” or “productive” suffix, meaning that it is still being used to create new words.
What is the rule for able and ible?
Here is the rule: If you remove -able from a word, you are left with a complete word (renewable, renew). If you remove -ible from a word, you are not left with a complete word (sensible, sens). But note that accessible, contemptible, digestible, flexible and suggestible are among the exceptions to this rule.
Word Lists
-able
adorable
advisable
agreeable
avoidable
breakable
capable
changeable
comfortable
disposable
employable
enjoyable
fashionable
identifiable
inexcusable
manageable
miserable
noticeable
portable
probable
reliable
remarkable
replaceable
respectable
sociable
valuable
vegetable
-ible
accessible
audible
credible
destructible
edible
flexible
horrible
impossible
indestructible
invincible
legible
possible
responsible
reversible
sensible
susceptible
terrible
visible