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TIF is an image format that supports high-quality, lossless compression. TIF files are commonly used for storing photographs, scanned images, and artwork in professional environments. Due to their high file size, TIF is often used for archival purposes or when maintaining image quality is critical.
PSD is a file format used by Adobe Photoshop for storing images with multiple layers. It allows for detailed editing and manipulation of image elements. PSD files can be easily modified, making them a popular choice for graphic designers and digital artists. They can be saved in other formats like JPG or PNG for sharing.