Meaning: The large celestial body that orbits a star possessed or owned a liquid essential for life.
Choice of Words: Planet is a large celestial body that orbits a star. Had means to possess or own something. Water is a liquid essential for life.
Alternative Expressions
There was water on the planet.
Meaning: This means the same as the first sentence. It's like saying, Water existed on the planet in the past.
Choice of Words: The word there is used to refer to a place or location. Was is a past tense verb that means something existed in the past but may not exist now. Water is a liquid that is essential for life on Earth. On is a preposition that means something is located on top of or attached to something else. Planet means a large, round object that moves around a star in space. When you put them together, "There was water on the planet" means that there was water on the planet in the past.
The planet possessed water.
Meaning: This means the same as the first two sentences. It's like saying, The planet had water.
Choice of Words: The word planet means a large, round object that moves around a star in space. Possessed is a verb that means to have or own something. Water is a liquid that is essential for life on Earth. When you put them together, "The planet possessed water" means that the planet had water.