As for monkshood and wolfsbane, they are the same plant, which also goes by the name of aconite. Well? Why aren't you all copying that down?"
-- Severus Snape (PS8)
Monkshood is another name for the plant called aconite or wolfsbane (PS8). Monkshood is extremely poisonous and must be handled with care to avoid poisoning.
Monkshood was included in Snape's first potions lesson, when he asks Harry the difference between that and wolfsbane (PS8).
Potions Connection
Monkshood is an ingredient in the Wide-Eye or Awakening Potion (Pm:SB).
Commentary
Etymology
Aconite is often called "monkshood" because the large blue flowers resemble the hooded cloaks worn by monks.
Notes
Aconite is often called "monkshood" because the large blue flowers resemble the hooded cloaks worn by monks. Every part of the plant is extremely poisonous - seeds, roots, and leaves - and should never be handled, so please DO NOT smell the flowers! "Symptoms of poisoning are tingling and numbness of tongue and mouth and a sensation of ants crawling over the body." source: Botanical.com
According to the "Harry Potter and the Philosopher's Stone video game" for the GameBoy Color, wolfsbane is an ingredient in the Wolfbane Potion.