The difference between MP3 and WAV is a matter of “compressed” or “lossless” formats. MP3 is compressed, and WAV files are uncompressed. The answer is this, you want WAV files for editing a podcast, and MP3 files for distribution (think iTunes). To draw a visual comparison, images can be high and low resolution.
A lossless audio file format is the best format for sound quality. These include FLAC, WAV, or AIFF. These types of files are considered “hi-res” because they are better or equal to CD-quality. The tradeoff is that these files will be very large.
It is uncompressed format WAV file format will consume a big memory space.Due to large sizes, the tracks saved using this format is not ideal for uploading online.
Converting from a compressed audio file to WAV file may not restore the full sound of the original source.