يمكن أن يستعيد صاحبها المحفظة غدا.

Because يمكن is commonly followed by أن + imperfect verb to mean can / may / it is possible to.

So:

• يمكن = it is possible
• أن يستعيد = to recover / to get back

Together, يمكن أن يستعيد means something like can recover or is able/allowed to recover, depending on context.

A very literal breakdown would be:

• يمكن = it is possible
• أن = that / to
• يستعيد = he recovers / recover

So the structure is very normal in MSA.

After أن, the imperfect verb normally goes into the subjunctive.

So the fully vowelled form here is:

• يستعيدُ in the indicative
• يستعيدَ after أن

That final -a vowel is a standard sign of the subjunctive in this kind of verb.

So in a fully marked sentence, you would read:

يمكنُ أن يستعيدَ صاحبُها المحفظةَ غدًا

This is a very common pattern in MSA:

• أريد أن أذهبَ = I want to go
• يمكن أن يعودَ = he can return

صاحبها is made of two parts:

• صاحب = owner, possessor, companion
• ها = her / its

So صاحبها literally means her owner or its owner.

In this sentence, it means its owner.

A natural English rendering is:

• its owner
• or, depending on the context, the owner

Because Arabic uses the same pronoun ها for both:

• her
• its for a feminine noun

The noun المحفظة is grammatically feminine, so if you refer back to it with a pronoun, you use ها.

This is about grammatical gender, not biological sex. A wallet is not female in real life, but محفظة is a feminine noun in Arabic, so it takes feminine agreement.

Because محفظة is a feminine noun, and one clear clue is the ending ة (tāʾ marbūṭa), which very often marks feminine nouns.

So:

• محفظة = wallet / purse
• grammatical gender: feminine

That is why a pronoun referring to it is ها.

This is very normal in Arabic:

• سيارة → feminine
• مدينة → feminine
• محفظة → feminine

Because صاحبها is the one doing the action of يستعيد.

Who is recovering the wallet?
The owner is.

What is being recovered?
The wallet is.

So:

• صاحبها = subject
• المحفظة = direct object

In fully vowelled form:

• صاحبُها = nominative, so it is the subject
• المحفظةَ = accusative, so it is the direct object

Arabic often puts the verb before the subject, so this word order is normal.

Because it is the direct object of يستعيد.

The verb استعاد / يستعيد means to recover, regain, retrieve something, and the thing being recovered takes the accusative case.

So in a fully vowelled version:

• صاحبُها = the subject
• المحفظةَ = the object

This is one of the most important case patterns in Arabic:

• subject → nominative
• direct object → accusative

Because Arabic very often uses verb-subject-object order, especially in formal written Arabic.

So this part:

يستعيد صاحبها المحفظة

is literally ordered like:

• recovers
• its owner
• the wallet

This is normal MSA style.

English usually prefers subject-verb-object:

• Its owner can recover the wallet tomorrow

Arabic can also rearrange the sentence for emphasis, but the order in your sentence is completely standard.

غدًا means tomorrow and functions as an adverb of time.

Arabic often uses words like this directly, without a preposition:

• اليوم = today
• غدًا = tomorrow
• أمس = yesterday

So you do not need something like في here.

The sentence simply says:

• ... المحفظة غدًا = ... the wallet tomorrow

Also, in fully vowelled form it is usually written غدًا.

Sometimes yes, but the nuance is a little different.

• يمكن أن... often means it is possible to / one may / can
• يستطيع أن... more directly means is able to / is capable of

So:

• يمكن أن يستعيد صاحبها المحفظة غدًا
  = Its owner can/may retrieve the wallet tomorrow
• يستطيع صاحبها أن يستعيد المحفظة غدًا
  = Its owner is able to retrieve the wallet tomorrow

In many contexts the English translation may still be can, but يمكن often sounds a bit more like possibility or permission, while يستطيع focuses more on ability.

Yes. Arabic allows several natural word orders. For example:

• يمكن أن يستعيد صاحبها المحفظة غدًا
• يمكن لصاحبها أن يستعيد المحفظة غدًا
• صاحبها يمكن أن يستعيد المحفظة غدًا

These are all possible, though they differ slightly in style or emphasis.

A very common alternative is:

يمكن لصاحبها أن يستعيد المحفظة غدًا

This literally means: It is possible for its owner to retrieve the wallet tomorrow.

So the sentence you were given is correct and natural, but it is not the only possible phrasing.