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What is the difference between MP3 and FLAC formats?

FLAC formats mp3
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What is the difference between MP3 and FLAC formats?

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Our MP3 files are encoded at 256 kbps (near-CD quality) and are easy to download, easy to burn to CD, easy to transfer to portable players and sound great. However, MP3 files are compressed and therefore may not sound quite as good as the original source recording to a critical ear. FLAC is a premium format with “lossless” compression, meaning the source audio file is compressed, but without sacrificing any of the audio information contained in the master recording.

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