FFX is my favorite jrpg. Am I correct in the statement that the same team made final fantasy 8?

I think I read somewhere that ff9 and ff10 were worked on at the same time and the team that made ff8 made ffx while another group worked on ff9. Is this accurate or close to?

I've always wanted to play ff8 but just never had. Ps2 is sort of my limit when it comes to graphics being acceptable enough. I think the main girl from ff8 is the inspiration for creating yuna?