this is open lossless codecs, developed under the Ogg project. Lately it’s become quite popular: many users wishing to store audio with original quality choose FLAC. This is partly in connection with the fact that codecs uses IDv1 and IDv3 tags - this allows a user to sort an audio collection according to one’s particular tastes, changing the original metadata of the tracks.
this is a proprietary format developed by Microsoft. Users have noticed low error resilience: sometimes insignificant damage to the file can cause the file not to play. Besides this, the closed format hampers its proliferation outside of Windows platforms.