It is possible, just redirect the output to a file:
$ command > outputfile.txt
Or if you want to append data:
$ command >> outputfile.txt
If you want stderr as well use this:
$ command &> outputfile.txt
or this to append:
$ command &>> outputfile.txt
If you want to have both stderr and output displayed on the console and in a file use 'tee' command and pipe the output to it:
$ command | tee outputfile.txt
A slight modification will catch stderr as well:
$ command 2>&1 | tee outputfile.txt
or slightly shorter and less complicated:
$ command |& tee outputfile.txt
To summarize:
|| visible in terminal || visible in file || existing
Syntax || StdOut | StdErr || StdOut | StdErr || file
==========++==========+==========++==========+==========++===========
> || no | yes || yes | no || overwrite
>> || no | yes || yes | no || append
----------||----------|----------||----------|----------||----------
2> || yes | no || no | yes || overwrite
2>> || yes | no || no | yes || append
----------||----------|----------||----------|----------||----------
&> || no | no || yes | yes || overwrite
&>> || no | no || yes | yes || append
----------||----------|----------||----------|----------||----------
| tee || yes | yes || yes | no || overwrite
| tee -a || yes | yes || yes | no || append
----------||----------|----------||----------|----------||----------
n.e. (*) || yes | yes || no | yes || overwrite
n.e. (*) || yes | yes || no | yes || append
----------||----------|----------||----------|----------||----------
|& tee || yes | yes || yes | yes || overwrite
|& tee -a || yes | yes || yes | yes || append
----------||----------|----------||----------|----------||----------
** There is a way, but it's too complicated to fit into the column. You can find a helpful link in the List section about it.