Your is an adjective. Your is the possessive form of the pronoun you.
Your may be used as a modifier before a noun: "Put on Your jacket." "You may list Your accomplishments."
Your may be used to indicate something that belongs to a person/one/thing. "Your best chance here is to punt." "The best view is on Your right." "All right, Rover, this is Your doghouse."
Informal: Your may be used to indicate a type or situation familiar to the addressed. "This is Your basic rowboat here." "We are in Your typical mess here." [Note: The use of Your, here does not really indicate that which belongs to you. In this case, Your is used to indicate possession of general knowledge, rather than specific possession.]
Correct: "Your car is the fastest of the three." [The car that belongs to you is the fastest of the three.]
Incorrect: "You car is the fastest of the three." [You is not the possessive form. Your is the possessive form.]
Incorrect: "You're problem is that you always assume that there will be no problems." [You are problem is that you always assume that there will be no problems. No!]
Correct: "This is Your chance!" [This is the chance that belongs to you.]
Incorrect: "That is you're problem." [That is you are problem. No!]
Yours is a pronoun. Yours may be used with either a singular or plural verb.
Yours is used to indicate the one or ones belonging to you (singular). "Yours are the blue ones." "The choice is Yours."
Yours is used to indicate the one or ones belonging to you (plural). "Yours is the most critical task, group." "All right men, Yours is the responsibility for the right flank."
Yours is traditionally used with an adverbial modifier in the complimentary close of a letter. "Sincerely Yours,"
Idiom: Yours truly is used in place of I/myself/me. "Yours truly is not going to take that assignment." "It is not something I would normally choose for Yours truly." "They gave the stuff directly to Yours truly."
Correct: "Yours is the best of today's entries."
Incorrect: "Your's is the best of today's entries." [The apostrophe is used to show possession. Yours is already a possessive. Do not use an apostrophe with Yours.]
Correct: "As of the start of the day tomorrow, the responsibility will be Yours alone."