There is also существо
and существование
which seem quite different but I fail to differentiate those two in the title.
Would somebody give a hint on what's суть
and in what it differs from сущность
?
In some contexts these would be synonimous. I'd differentiate them as follows:
As for set expressions, try not mixing this up:
А суть в чем? When in doubt, analyze it like that: "суть"="the main point", "сущность"="essense, nature"
Bonus knowledge: "суть" also used to be a 3rd person plural of "to be". Still used, often in singular (who cares?) in bookish contexts when people want to sound clever while expressing complicated ideas about the nature of things and laws of nature.
суть - essence, main point of the idea, speech, text, demonstrative act.
сущность - essence, real, may be hidden nature of a being, thing, object, person
существо - being (as an object, not as action)
существование - existence (action)
Would like to add to Shady_arc's answer.
существо means living being, organism.
сущность might mean any entity, not just living being.
существование means being, existence. Much broader term than living.
суть дела - the essence of a matter
сущность вопроса - an essence of the issue
существо - a creature
существование - an existence