Not exactly. The Greek word is "Μετανοήσατε" which most accurately means to transform your thoughts. This was translated into Latin by St. Jerome, a fluent speaker of Koine Greek, as "paenitentiam" meaning to perform the acts of inward and outward penance, in other words penance...
Peace be to you.
Works don’t obtain the forgiveness of sn.
Forgiveness is a gift freely given in ALL cases.
If it were dependent on works, then it wouldn’t be forgiveness but earned and Christ would not have needed to die.