Can you please help with the fact that does SQL 2019 Standard edition basic availability group support more than one databases i.e. one database per availability group. This way if there are 3 databases - 3 availability group's can be created , one per database and have three different failovers.
You're correct, that's exactly how it works. Enterprise Edition allows you to remove the one database to one AG barrier so that you can have multiple databases that all fail over together. Another option if you wanted to stay on Standard Edition and have all the databases fail over together is to use a FCI.
If the above is true , is there any MS link for the same
Closest thing you're going to see Doc'd is here.
Also does the basic and advanced availability have any difference in terms of failover
In terms of failover conditions, no. In terms of failover options, yes, as Enterprise Edition can use Distributed AGs.