FLAC is the audiophile's handshake: CD-perfect sound at roughly half the shelf space. It was born in 2001, Josh Coalson; now kept by the open Xiph.Org Foundation, and its real weak spot is fitting in pockets: lossless is still large: and charming Apple's own apps.
AVI is the veteran of desktop video: dependable in 1995, cranky about everything invented since. Audio Video Interleave: an early container that predates streaming and most codecs you'd use today. That makes it the right destination when what you need is opening old archives and humoring legacy Windows tools.