Not sure which was made first, but one of these is certainly a ripoff of the other:
The Black Cauldron
The Legend of Zelda: Ocarina of Time
In both you have a fairy that looks just like a glowing ball of light, a sword wielding hero in green clothes, and a blonde haired princess in pink and purple dress.
If you have any question about the similarities between TBC and TLoZ:OoT, just look at the screencap below from The Black Cauldron.
On the left you have a glowing "fairy orb" (very similar looking to Navi). Then just to the right, there is Princess Eilonwy (who looks very much like Zelda). And on the far right is Taran (who looks very much like Link).