FLAC is described as 'stands for Free Lossless Audio Codec, an audio format similar to MP3, but lossless, meaning that audio is compressed in FLAC without any loss in quality' and is a leading Audio Codec in the Audio & Music category. There are eight alternatives to FLAC for a variety of platforms, including Windows, Linux, Mac, Android and Winamp. The best alternative is Vorbis, which is both free and Open Source. Other great apps like FLAC are Matroska (Free, Open Source), Opus Interactive Audio Codec (Free, Open Source), WavPack (Free, Open Source) and Monkey's Audio (.APE) (Free).
Ogg Vorbis is a fully open, general-purpose compressed audio format for mid to high quality (8kHz-48.0kHz, 16+ bit, polyphonic) audio and music at fixed and variable bitrates from 16 to 128 kbps/channel.
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Most users think Vorbis is a great alternative to FLAC.
Opus is a totally open, royalty-free, highly versatile audio codec. Opus is unmatched for interactive speech and music transmission over the Internet, but also intended for storage and streaming applications.
Monkey’s Audio makes perfect, bit-for-bit copies of your music, exactly the same as the original. You can decompress your lossless .APE files back to the original files. Think of it as a beefed-up Winzip™ to perfectly recreate the original music CD.