Oil all around one of my spark plug prelude 1998

Test or check the crank position sensor. Look for the 5 volt reference signal (your prelude may have a higher reference voltage- I don't know), check that the ground wire is good, then see if you get a signal from the signal wire. See if you can back probe the signal wire with the engine cranking. If the sensor is at fault, the ecu cannot determine spark timing.

Look at a wiring diagram to see if the camshaft position sensor is also part of spark timing.

your problem is the head cover gaskets.

VALVE COVER AND OR ROCKER SHAFT ORINGS ARE LEAKING INTO SPARK PLUG HOLES. I WOULD REPLACE BOTH AT SAME TIME.

Worn spark plugs, a defective coolant temperature sensor, or a defective auxiliary air valve [aka fast idle thermo valve] would be the first items to check.

Take a thin cloth or napkin and absorb the oil, you may have to use a screwdriver or ? to push the cloth down beside the plug.

THEN THE CAM TIMING MUST BE WRONG OR THE INJECTOS ARE NOT DELIVERING FUEL, HAVE YOU TESTED THE INJECTORS TO SEE IF THEY ARE PULSING AND DELIVERING FUEL? U CAN TEST THIS WITH A TOOL CALLED A "NOID" VER Y EASY TO USE, PLUGS INTO THE INJECOTR HARNESS AND FLASHES IF THEY WORK. ALSO VERIFY THE CAM IS SET RIGHT

Replace Balance shaft belt
Inspect Brake lines, hoses & connections
Inspect Brakes
replace Coolant
Inspect Cooling system
Inspect boots & seals Drive axles
Inspect Exhaust system
Inspect Fluid levels
Inspect Fuel lines & hoses
Check Idle speed
Inspect/adjust Parking brake
Replace Spark plugs
Inspect Steering linkage
Inspect Suspension
Inspect Tie rod ends
Replace Timing belt
Inspect Water pump
Rotate/adjust air pressure in Wheels & tires

It may be the gromet for the PCV valve or it could be the spark plug rubber seal located in the valve cover if it is the type of engine that has the wires and spark plugs that go down through the valve cover, if this is the case buy a valve cover gasket with the rubber gromets that are located around the base of the hole where spark plugs fit through and install.

Smoking out the tailpipe is usually caused by worn rings, or really worn valve guide seals. (if it is an oil smoke) If it is a black smoke, it is running too rich, maybe an injector leaking or stuck open.

Go to your nearest Autozone or other parts house and buy an inexpensive plug gapper. I gap the Honda plugs at .045 .