It is -> it’s
It possesses that thing -> its
‘Its’ or ‘it’s’?
The word it’s is always short for ‘it is’ (as in it’s raining), or in informal speech, for ‘it has’ (as in it’s got six legs).
The word its means ‘belonging to it’ (as in hold its head still while I jump on its back). It is a possessive pronoun like his.
Don’t blame me. Seems like it should be the other way around.