Wave File (.WAV)
WAVE form audio format, is a Microsoft and IBM audio file format standard for storing audio on PCs. Though a WAV file can hold audio compressed with any codec, by far the most common format is pulse-code modulation (PCM) audio data. Since PCMUses an uncompressed, lossless storage method, which keeps all the samples of an audio track, professionalUsers or audio experts mayUse the WAV format for maximum audio quality. WAV audio can also be edited and manipulated with relative ease using software.
MP3 file (.MP3)
MPEG Audio Layer-3, or more commonly referred to as MP3, is a popular digital audio encoding and lossy compression format. It was designed to greatly reduce the amount of data required to represent audio, yet still sound like a faithful reproduction of the original uncompressed audio to most listeners.