King's Bounty existed before HOMM, in fact if memory serves the box for the original HOMM claimed it was a spiritual successor to King's Bounty or something. Actually, maybe that was in the PC Gaming World review of HOMM.
Yes, King's Bounty (1990) and Heroes of Might and Magic(1995) were both created by Jon Van Caneghem and New World Computing.
As someone who played each version of the game well over 100 hours, you could probably say I'm a fan. I originally found the IBM version of King's Bounty
on clearance at a local store, and played that version a lot. Later on I got a copy of the Sega Genesis port, which had better graphics.
If you play both of the games side by side, it is pretty clear that HOMM is essentially the same game with better graphics and some tweaks.
I have always called the original King's Bounty "Heroes of Might and Magic 0" (Zero) I and my daughter have also enjoyed the newer King's Bounty games. I may install and play Dark Side this week. Jon Van Caneghem sold New World Computing (and rights to Might and Magic) to 3DO for $13 million in 1996. Less than 10 years later, the rights to the
Heroes & Might & Magic properties were purchased for just 10% of what he was paid. Not sure why he didn't buy them up for just a tenth of what he had been paid - it would have been a lucrative investment. Maybe at the time he thought the idea was played out.
While I like the idea of a King's Bounty II, I'm not sure that I like the graphics as much.
If you'd like to check out Jon Van Caneghem's latest work, check out Creature Quest for Android or IOS. Evidently it has some similarities to King's Bounty.