GIF-Graphics interchangeable format. Used for animations, up to 8 bits per pixel. Limited colour palette, up to 256 colours. Also used for simpler images, but due to the limited colour it's remarked as unsuitable for reproducing colour photographs.
JPEG-Joint Photographic Experts Group. Commonly used for photographs. It is also a common method of Lossy compression, which means it has to lose some of it's data in order to reach it's goal.
BMP-Bitmap Formatted Image. An image file used to store bitmap digital images. Most BMP images generally have a large file size due to lack of any automatic compression, but using the Lossless method they can be considerably compressed, due to the fact there is so much redundant data in the image.
PNG-Portable Network Graphic. A bitmapped file format that employs lossless data compression. It was initially created to improve and replace the GIF format, and designed for web based sharing, not for printing.
TIFF-Tagged Image File Format. A file format for storing images, mostly popular around apple mac owners, photographers and graphic artists.
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