Quick guide
About MP3 and WAV files
MP3 - MPEG-1 Audio Layer III
MP3 is a compact audio format that works almost everywhere. It is a good choice when you want a small file for music, voice recordings, podcasts, or sharing audio online.
WAV - Waveform Audio File Format
WAV stores audio with very little processing, which makes it useful for editing, archiving, and production workflows. WAV files are usually larger than compressed formats like MP3 or AAC.