We can use 'may' to ask for permission.  It might rain this afternoon.

However this is rather formal and not used
very often in modern spoken English
 May I borrow your pen?
 May we think about it?
 May I go now?
We use 'may' to suggest something is
possible
 I might not have time to go to the shops for
you.
 I might not go.
For the past, we use 'might have'.
 He might have tried to call while I was out.
 I might have dropped it in the street.

 It may rain later today.

 I may not have time to do it today. 'May' is used to express :
 Pete may come with us
Permission:
might
May I go out Mum?
We use 'might' to suggest a small possibility
of something. Often we read that 'might'
You may eat some cake Jim.
suggests a smaller possibility that 'may', there
is in fact little difference and 'might is more
usual than 'may' in spoken English. Probability:

 She might be at home by now but it's not sure He may come late.
at all.
He may be on holidays.