Is water a molecule or a compound? Is it both?

The first answer is wrong.

A molecule is a chemical entity with more than one atom.

The atoms can be the same (e.g. oxygen molecule O2).

When the atoms are the same in a molecule the molecule is also called an element .

The atoms can be different (e.g. water molecule H2O).

When there are two or more different atoms in a molecule the molecule is also called a compound .

Hope this helps.