MP3 file extension is one of the most common file extensions. If holds highly compressed music, it also strips parts of the wave the human hearing cannot distinguish.
As WAV files are the raw audio, MP3 files only holds the information you need, you can hardly distinguish the difference in quality so you don\'t have to think it twice, use MP3.
Nevertheless MP3 license is not open, so you better watch out if you are a software developer using a MP3 music file inside, if you need a open source format please see the OGG music format called Vorbis which is free a in most cases even better than MP3.
Winamp is one of the oldest music player out there, since its beginning it provided outstanding quality for free, now it has a PRO version that is not that good, stay with the free one that is neat!
Winamp can open a lot of file extensions, among the most popular MP3, MIDI, WAV, 3GP, FLAC and CDA
Go to this link to download the Software: http://www.winamp.com/player
Media Player Classic
Is one of the best video player, it main strength is its size and speed. It support most of the new codecs and splitters as MKV.
And if so far you are not decided... ITS FREE! :)
Go to this link to download the Software: http://sourceforge.net/projects/guliverkli/
Gom Player is one of the finest video player out there, its free, nice and fast. Want more reasons to download it? Try it! if you dont like it consider its free! :)
Go to this link to download the Software: http://www.gomlab.com/eng/GMP_download.html
SongBird is one of those software you cant believe you don\'t have.
It\'s free.
It has tons of plugins to get the lyrics of the music you are currently listening
It has a very nice interface
It let you create your own plugins and it\'s open source!
Don\'t wait any longer uninstall winamp and use this incredible good application, you won\'t regret it as I do not :)
Go to this link to download the Software: http://www.getsongbird.com/