FLAC is a free, open-source audio format known for its lossless compression and high-quality sound. It preserves all the original audio data without any loss of quality. FLAC is ideal for audiophiles who require high-quality audio files for listening, archiving, and editing, without taking up as much storage space as uncompressed formats.
MP3 is an audio format that can compress and encode an audio file. It uses the lossy compression algorithm to contain audio data. The lossy compression helps to reduce the data significantly without losing audio quality. MP3s are created using different bit rates maintaining the original quality.