WAV is audio with nothing taken away: every sample intact, every megabyte accounted for. It was born in 1991, Microsoft and IBM, and its real weak spot is being carried around: it refuses to shrink.
FLV is a relic of the Flash era: the format YouTube grew up on, stranded when Flash died. The Flash Video container, typically holding old H.263, VP6 or early H.264 streams. That makes it the right destination when what you need is nothing new: today it's mostly old downloads waiting to be rescued.