Solubility is a more general term, but it is more often used to mean the ability of a solid solute to dissolve in a liquid solvent. The term 'soluble' has general applicability, whereas 'miscible' is usually used when both the two substances getting mixed are liquids. Thus, since water (liquid) and alcohol (liquid) mix with each other, and form a homogeneous solution, we say they are miscible. We can also say that alcohol is soluble in water.