Does "but one" mean "only one" or "except one"? [duplicate]

Does "but one" mean "only one" or "except one"?

This phrase shows up in the song "Love is an Open Door" from the movie "Frozen". The relevant line is "Our mental synchronization can have but one explanation".

EDIT: Shouldn't it be "Our mental synchronization can't have but one explanation"?


It means only one

BUT: adverb

only, just, simply, merely: St Anton is but a snowball's throw away from Lech. Collins Dictionary