Depending on what you quantify, both are correct.
1. Use many and few for countable nouns.
I have many/few friends.
There are many more opportunities waiting for you.
2. Use much and little for uncountable nouns.
She has much/little money in the bank.
There is much more pollution in the city.
3. Use "a lot of" and "lots of" for both countable and uncountable nouns. Use "is/was" for uncountable and "are/were" for countable nouns.
I have lots of things to do today.
You'll be in lot of trouble if you get caught.
There is a lot of crime in Manhattan.
There are a lot of cars on the road at this hour.
There is a lot more pollution in the city than in the country.
There are a lot more people now than last week.
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