Is it possible to identify broken links?

Yes - absolutely ✅

With the new Broken Link Detection beta feature, Link Management can scan links in your space and show which links are working and which ones are broken.

To use it, ask your site admin to enable Broken Link Detection in Confluence Administration > Link Management. After that, you can run the check from Space Settings > Integrations > Link Management.

For a full walkthrough, see Check link status.